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INVESTOR ALERT: Class Action Lawsuit Against Santander Consumer USA Holdings Inc. Announced by Law Offices of Howard G. Smith

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Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Santander Consumer USA Holdings Inc. (“Santander” or the “Company”) (NYSE:SC) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s Initial Public Offering (the “IPO”) on January 23, 2014.

Santander is a specialized consumer finance company focused on vehicle finance and unsecured consumer lending products. The Company’s primary business is the indirect origination of retail installment contracts, principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers.

On August 7, 2014, after the close of trading, Santander revealed in a quarterly filing that the Company received a civil subpoena from the United States Department of Justice under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) requesting the production of documents and communications related to the Company’s underwriting and securitization of nonprime auto loans since 2007. Following this news, on August 8, 2014, shares of Santander fell to $17.95 per share – a 25% decline in Santander’s stock price from the IPO price of $24.00.

If you are a member of the Class described above, you have until October 27, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to, or visit our website at

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