US law firms plan to file a class action lawsuit against Santander

At least three law firms in the United States have proposed that potentially affected persons file class actions against Santander Bank, in connection with the alleged use of this entity in the United Kingdom by the government of Iran to evade sanctions.

last Sunday, Financial Times Iran has reportedly used accounts at Lloyds and Santander banks in the UK, among the UK’s largest, to secretly move money around the world as part of a plan to evade US sanctions.

The two banks denied violating the sanctions.

Read: Banco Santander sets new profit record with 15% more profits during 2023

Wall Street shares of Santander fell 5.7% the following Monday after the news, causing losses for investors and prompting law firms such as Block & Leviton, Frank Cruz Law, and Pomerantz to seek to join stock fraud class action lawsuits.

An SEC spokesperson noted that the regulator does not comment on the presence or absence of potential investigations.

With information from EFE

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