Please be advised that your rights may be affected by the above securities class action (the “Action”) pending in the United States District Court for the Northern District of Texas (the “Court”), if, during the period between February 3, 2015 and March 15, 2016, inclusive (the “Settlement Class Period”), you purchased or otherwise acquired any common stock of Santander Consumer USA Holdings Inc. (“Santander”) and were damaged thereby.
Summary of the Action
This Notice relates to a proposed Settlement of claims in a pending securities class action brought by investors alleging, among other things, that defendants Santander Consumer USA Holdings Inc. (“Santander”), Thomas G. Dundon (“Dundon”), Jason Kulas (“Kulas”), Ismail Dawood (“Dawood”), and Jennifer Davis (“Davis”) (collectively, the “Defendants”) violated the federal securities laws by making materially false and misleading statements regarding Santander’s published financial statements that caused Settlement Class Members to suffer damages. A more detailed description of the Action is set forth in paragraphs 11-22 of the Notice. The proposed Settlement, if approved by the Court, will settle claims of the Settlement Class, as defined in paragraph 23 of the Notice.
The Settlement Class consists of:
All persons and entities who or which purchased Santander common stock between February 3, 2015 and March 15, 2016, inclusive (the “Settlement Class Period”), and were damaged thereby.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
|SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN MAY 17, 2019. (DEADLINE HAS PASSED)
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in ¶ 32 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in ¶ 33 of the Notice), so it is in your interest to submit a Claim Form.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT WAS RECEIVED NO LATER THAN DECEMBER 19, 2018. (DEADLINE HAS PASSED)
||If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT WAS RECEIVED NO LATER THAN DECEMBER 19, 2018. (DEADLINE HAS PASSED)
||If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class.
|GO TO A HEARING ON MAY 21, 2019 AT 9:30 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT WAS RECEIVED NO LATER THAN DECEMBER 19, 2018. (DEADLINE HAS PASSED)
||Filing a written objection and notice of intention to appear by December 19, 2018 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.
||If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
How do I obtain more information?
If you would like more information, you may contact the Claims Administrator by: Calling toll-free (833) 288-5303; or Emailing info@SantanderSecuritiesLitigation.com; or Mailing a letter to:
Parmelee v. Santander Consumer USA Holdings Inc., et al.
c/o JND Legal Administration
P.O. Box 91347
Seattle, WA 98111
A copy of the Notice is available on the Important Documents page. Inquiries should NOT be directed to the Court or the Clerk of the Court.