SAN DIEGO, Feb. 17, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Delaware on behalf of certain purchasers of shares of Navient Corp (NASDAQ:NAVI) over alleged Securities Laws Violations by Navient.
Investors who purchased shares of Navient Corp (NASDAQ:NAVI) have certain options and for certain investors are short and strict deadlines running. Deadline: April 11, 2016. NASDAQ:NAVI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that Defendants issued certain allegedly materially false and misleading statements to investors and/or failed to disclose that Navient’s loan servicing practices were not in compliance with applicable federal regulations, that Navient’s non-compliance with federal regulations could subject Navient and its subsidiaries to restitution, civil monetary penalties, and corrective actions, and that as a result, defendants’ statements about Navient’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
Navient Corp, which was formed in 2014 by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient, is a loan management, servicing and asset recovery company.
On August 1, 2014, Navient Corp disclosed that the Consumer Finance Protection Bureau (CFPB) was investigating the student loan servicer's handling of loans, disclosures, and assessments of late fees.
On August 24, 2015, Navient Corp disclosed that on August 19, 2015, Navient Solutions, Inc. (“NSI”), a wholly-owned subsidiary of Navient Corporation, received a letter from the CFPB notifying Navient Solutions, Inc that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise process, the CFPB’s Office of Enforcement is considering recommending that the CFPB take legal action against Navient Solutions, Inc.
On February 6, 2016, U.S. presidential candidate Hillary Clinton stated that Navient's "behavior is outrageous" and that the company has been "misleading people" and "doing some really terrible things."
Shares of Navient Corp (NASDAQ:NAVI) declined from $22.37 per share in February 2015 to as low as $8.20 per share on February 11, 2016.
Those who purchased Navient Corp (NASDAQ:NAVI) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.