SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Santander Consumer USA Holdings, Inc. (SC)

16 Mar, 2016, 15:13 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, March 16, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Santander Consumer USA Holdings, Inc. ("Santander" or "the Company") (NYSE: SC). Such investors are advised to contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz at info@bgandg.com or 212-697-6484.

This investigation concerns whether Santander and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the "Exchange Act"). 

On March 15, 2016, Santander announced that it is once again late in filing its annual report, and will be missing its second deadline. The Company has been recalculating provisions for loan losses in response to regulatory concerns. The U.S. Securities and Exchange Commission has asked for details of previous disclosures about the Santander's credit loss exposure, including damages on troubled debt; as the Company is amending its procedures for estimating bad debt expense.

Following this news, Santander stock fell roughly $1.00 per share on March 15, 2016 to close at $9.75 per share. On March 16, 2016, intra-day trading, Santander shares continue to drop.

If you are aware of any facts relating to this investigation, or purchased shares of Santander, you can assist this investigation by visiting the firm's website: http://www.bgandg.com/#!sc/ts5gk.  You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com.  Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.  Attorney advertising. Prior results do not guarantee similar outcomes.

Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com

 

SOURCE Bronstein, Gewirtz & Grossman, LLC



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