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SCUSA Stockholders Litigation

877-883-9956

This official website is maintained by the Settlement Administrator under the supervision of Plaintiffs’ Counsel in the action entitled “In re Santander Consumer USA Holdings Inc. Stockholders’ Litigation, Consolidated C.A. No. 2022-0689-LWW” (Delaware Court of Chancery)

The information contained on this website is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear, which you can access by clicking here. Because this website is just a summary, you should review the Notice for additional details.

This website relates to a stockholder class action (the “Action”) brought in the Court of Chancery of the State of Delaware (the “Court”).

The parties to the Action have reached a proposed settlement of the Action for $162,500,000.00 (U.S. Dollars) in cash (the “Settlement”). The proposed Settlement, if approved by the Court, will resolve all claims in the Action.

If you are a member of the Class, you are subject to the Settlement. The Class means the class as defined in the Stipulation and Order Regarding Class Certification, which was granted by the Court on January 22, 2024, i.e., a non-opt-out class consisting of:

All former holders of SCUSA common stock as of the January 31, 2022 closing of the Acquisition (the “Closing”) who received $41.50 per share in cash in exchange for their shares of SCUSA common stock in connection with the Acquisition, whether beneficial or of record, including as necessary for relief the legal representatives, heirs, successors-in-interest, transferees, and assignees of all such foregoing holders, but excluding (i) Defendants in this Action; (ii) any person who is, or was at the time of the Closing, an officer, director, or partner of SCUSA, SHUSA, and/or Banco Santander; (iii) the immediate family members of any of the foregoing; (iv) any trusts, estates, entities, or accounts that held SCUSA common stock for the benefit of any of the foregoing; and (v) the legal representatives, heirs, successors-in-interest, successors, transferees, and assigns of (i)-(iv).

Please Note: The Class was certified as a non-“opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.

Payments to Eligible Class Members will be made only if the Court approves the Settlement and a Plan of Allocation, and only after any appeals are resolved. Please be patient, as this process will take some time to complete.

If you have questions, you may call the SCUSA Stockholders Litigation Help Line at 1-877-883-9956 or email info@SCUSAStockholdersLitigation.com.

CLASS MEMBERS' LEGAL RIGHTS IN THE SETTLEMENT
Description Due Date
RECEIVE A PAYMENT FROM THE SETTLEMENT. CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM.

If you are a member of the Class, you may be eligible to receive a pro rata distribution from the Settlement proceeds.  Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court.  If you are eligible for a distribution from the Settlement, it will be paid to you directly. See paragraphs 40-50 of the Notice for further discussion.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2024.

If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs’ Counsel’s application for an award of attorneys’ fees and Litigation Expenses, including Plaintiffs’ application for incentive awards, you may write to the Court and explain the reasons for your objection.
ATTEND A HEARING ON DECEMBER 17, 2024, AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2024.

Filing a written objection and notice of intention to appear that is received by December 2, 2024, allows you to speak in Court, at the discretion of the Court, about your objection.  In the Court’s discretion, the December 17, 2024, hearing may be conducted by telephone or video conference (see paragraphs 58-59 of the Notice). 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.