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Case Status:    ONGOING    
On or around 11/06/2017 (Ongoing date of last review)

Filing Date: October 12, 2017

According to the Complaint, during the period from December 2012 through October 2013 (the “Class Period”), Santander Securities, L.L.C. (SSLLC) solicited the Plaintiffs and other putative Class members (“Class Members”) to purchase over $180 million worth of Puerto Rico Municipal Bonds (PRMBs) and $101 million worth of Puerto Rico Closed End Funds (PRCEFs or CEFs) (collectively “PR securities”).

The Complaint alleges in connection with those solicited purchases or sales, acting with scienter and with the intent to execute the transactions, SSLLC devised as scheme to defraud by which it either instructed its FAs to omit material facts to the purchaser Plaintiffs and putative Class members, or concealed the material facts from its FAs to prevent their disclosure to the purchaser Plaintiffs and putative Class members (“Scheme to Defraud”).

Lead Plaintiffs filed an Amended Complaint on November 6, 2017.

COMPANY INFORMATION:

Sector: Financial
Industry: Money Center Banks
Headquarters: Spain

SECURITIES INFORMATION:

Ticker Symbol:
Company Market:
Market Status:

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Puerto Rico
DOCKET #: 17-CV-02243
JUDGE: Hon. Carmen C. Cerezo
DATE FILED: 10/12/2017
CLASS PERIOD START: 12/01/2012
CLASS PERIOD END: 10/31/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Espada, Minana & Pedrosa Law Offices, PSC
    122 Calle Manuel Dómenech Altos Urb. Baldrich, Espada, Minana & Pedrosa Law Offices, PSC, PR 00918
    787.758.1999 787.758.1999 ·
  2. Quetglas Law Offices (Puerto Rico)
    P.O. Box 16606, Quetglas Law Offices (Puerto Rico) 00908-6606
    787.722.0635/722.7745 787.725-3970 ·
No Document Title Filing Date
COURT: D. Puerto Rico
DOCKET #: 17-CV-02243
JUDGE: Hon. Carmen C. Cerezo
DATE FILED: 11/06/2017
CLASS PERIOD START: 12/01/2012
CLASS PERIOD END: 10/31/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Espada, Minana & Pedrosa Law Offices, PSC
    122 Calle Manuel Dómenech Altos Urb. Baldrich, Espada, Minana & Pedrosa Law Offices, PSC, PR 00918
    787.758.1999 787.758.1999 ·
  2. Quetglas Law Offices (Puerto Rico)
    P.O. Box 16606, Quetglas Law Offices (Puerto Rico) 00908-6606
    787.722.0635/722.7745 787.725-3970 ·
No Document Title Filing Date