Santander Consumer USA ($SC) $162.5M Investor Settlement

The settlement funds have been distributed to claimants.

$162,500,000

Cash Settlement

2022-0689-LWW

Case number

01/31/2022

Class period Start

01/31/2022

Class period End

Santander Consumer USA Holdings ($SC) has agreed to settle $162.5M with investors to resolve claims that Banco Santander and its affiliates engineered the 2022 buyout at an unfair $41.50 per share, using a conflicted process and omitting key financial disclosures.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements

Suspected Party

Management

Security Type

Stocks

Trade Direction

Long

Plaintiffs

The Liverpool Limited Partnership

Attorneys

Bernstein Litowitz Berger & Grossmann LLP

Defendants

Juan Carlos Alvarez de Soto

Trades matching type

FIFO

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