Santander Consumer, Investors Get Final OK of $47 Million Deal

Santander Consumer USA Holdings Inc. and investors who alleged it misled them about its ability to pay dividends secured final approval for a $47 million settlement in federal court in Texas.

The cash deal follows more than five years of “contentious litigation,” the consumer finance company’s investors, now certified as a class, told the U.S. District Court for the Northern District of Texas. Judge Ed Kinkeade entered a final judgment approving the settlement Tuesday.

The investors sent settlement notices to nearly 18,000 potential class members, and there haven’t been any objections or requests for exclusion received so far, according to ...