Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the Santander Consumer USA Holdings, Inc. Securities Settlement

SAN DIEGO--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Santander Consumer USA Holdings, Inc. Securities Settlement:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
DEKA INVESTMENT GMBH, Individually and on	§	Civil Action No. 3:15-cv-02129-K
Behalf of All Others Similarly Situated,	§
Plaintiffs,	§	CLASS ACTION
	§
vs.	§	Hon. Ed Kinkeade
	§
SANTANDER CONSUMER USA HOLDINGS INC.,	§	SUMMARY NOTICE
et al.,	§
Defendants.	§

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SANTANDER CONSUMER USA HOLDINGS INC. (“SCUSA” OR THE “COMPANY”) COMMON STOCK BETWEEN JANUARY 23, 2014 AND JUNE 12, 2014, INCLUSIVE, AND WERE DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Northern District of Texas, a hearing will be held on January 12, 2021, at 10:00 a.m., before the Honorable Ed Kinkeade, United States District Judge, at the Earle Cabell Federal Building, 1100 Commerce Street, Room 1625, Dallas, Texas 75242, for the purpose of determining: (1) whether the proposed Settlement of the Action for the sum of Forty-Seven Million Dollars ($47,000,000.00) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice against the Released Parties as set forth in the Stipulation of Settlement dated July 28, 2020; (2) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Classes, Lead Plaintiffs should be certified as Class Representatives for the Classes, and Lead Counsel should be appointed as Class Counsel for the Classes; (3) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Action, together with interest thereon, and the application of Lead Plaintiffs for an award of their costs and expenses in representing the Classes.

The recent outbreak of the Coronavirus (COVID-19) is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Hearing by video or telephone conference, or otherwise allow Class Members to appear at the hearing by phone, without further written notice to the Classes.  In order to determine whether that date and time of the Settlement Hearing have changed, or whether members of the Classes must or may participate by phone or video, it is important that you monitor the Court’s docket and the Settlement website, www.SCUSASecuritiesSettlement.com, before making any plans to attend the Settlement Hearing.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will solely be posted to the Settlement website, and you will not receive any further notice such as this one.  Also, if the Court requires or allows Class Members to participate in the Settlement Hearing by phone, the phone number for accessing the telephonic conference will be posted to the Settlement website, www.SCUSASecuritiesSettlement.com.

If you purchased or acquired SCUSA common stock during the Class Period, including in or traceable to SCUSA’s January 23, 2014 initial public offering, your rights may be affected by this Action and the Settlement thereof.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form, you may obtain copies by writing to SCUSA Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43380, Providence, RI 02940-3380, or by downloading this information at www.SCUSASecuritiesSettlement.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form by mail (postmarked no later than January 4, 2021), or online at www.SCUSASecuritiesSettlement.com (no later than January 4, 2021), establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, such that it is postmarked no later than December 22, 2020, in the manner and form explained in the detailed Notice referred to above.

Any objection to any aspect of the Settlement, the Plan of Allocation, and/or Lead Counsel’s fee and expense application must be filed with the Clerk of the Court no later than December 22, 2020, and received by the following no later than December 22, 2020:

ROBBINS GELLER     RUDMAN & DOWD LLP ELLEN GUSIKOFF STEWART 655 West Broadway, Suite 1900 San Diego, CA  92101 GRANT & EISENHOFER P.A. DANIEL L. BERGER 485 Lexington Avenue, 29th Floor New York, NY 10017 Lead Counsel

WACHTELL, LIPTON,     ROSEN & KATZ STEPHEN R. DIPRIMA 51 West 52nd Street New York, NY 10019 HAYNES AND BOONE, LLP R. THADDEUS BEHRENS 2323 Victory Avenue, Suite 700 Dallas, TX 75219 Counsel for the SCUSA Defendants

SKADDEN, ARPS, SLATE,     MEAGHER & FLOM, LLP NOELLE M. REED 1000 Louisiana Street, Suite 6800 Houston, TX 77002 Counsel for the Underwriter Defendants

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

DATED:  August 13, 2020	BY ORDER OF THE COURT
	UNITED STATES DISTRICT COURT
	NORTHERN DISTRICT OF TEXAS