SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Banco Santander, S.A. - SAN

NEW YORK, Feb. 15, 2024

The investigation concerns whether Satander and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On February 4, 2024, the Financial Times published an article reporting that Iran had used Santander accounts "to covertly move money around the world as part of a vast sanctions-evasion scheme".  Specifically, Iran's state-controlled Petrochemical Commercial Company allegedly moved money through a Santander UK business bank account via a front company. 

On this news, Santander's American depositary receipt ("ADR") price fell $0.24 per ADR, or 5.74%, to close at $3.94 per ADR on February 5, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.