Notice of Filing of Securities Class Action Against Santander Securities, LLC and Certain Related Companies

SAN JUAN, Puerto Rico, April 12, 2018 /PRNewswire/ -- Quetglas Law Offices, P.S.C. ("QLO") announced that on April 9, 2018, it filed an amended securities class action lawsuit on behalf of Jorge Ponsa-Rabell and other investors against Santander Securities, LLC; Santander Bancorp; Santander Holdings USA, Inc.; Banco Santander Puerto Rico; and Banco Santander S.A. (jointly "Santander") (NYSE: SAN).  The action, which is captioned Jorge Ponsa-Rabell, et al. vs. Santander Securites, LLC, et al., 17-cv-02243-CCC (D. P.R.), asserts that during the period from December 2012 through October 2013, that is from December 1, 2012 through October 31, 2013 (the "Class Period"), through the omission or concealment of material facts, in violation of the federal securities laws, Santander solicited and caused the Plaintiffs and other putative Class members (the "Class") 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") and other Open-End Puerto Rico Funds ("PROEFs") (collectively "PR securities"). The action alleges that, as a result of the foregoing, Class members sustained severe economic losses.

If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than 60 days from today.  Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is June 11, 2018.  Any member of the proposed Class may move the Court by the above deadline to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.

If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Eric Quetglas-Jordán of QLO at 787-722-0635, or by email at [email protected]. Information about QLO can be found online at www.QuetglasLawPSC.com.

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SOURCE Quetglas Law Offices, P.S.C.