LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC announces a class action lawsuit has been filed against Santander Consumer USA Holdings Inc. (“Santander” or the “Company”) (NYSE: SC) concerning possible violations of federal securities laws between February 3, 2014 and March 15, 2016. Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the May 17, 2016, lead plaintiff motion deadline.
According to the complaint, the Company allegedly issued misleading statements and/or failed to disclose that: (1) the Company utilized an improper methodology for assessing credit loss allowance on individually acquired retail installment contracts. When the truth was revealed to the investing public, shares dropped causing investors harm.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
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