An investigation on behalf of current long term investors in Navient Corp (NASDAQ: NAVI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 11/26/2018 -- An investigation on behalf of investors in shares of Navient Corp (NASDAQ: NAVI) concerning potential breaches of fiduciary duties by certain directors and officers of Navient Corp was announced.
Investors who are current long term investors in Navient Corp (NASDAQ: NAVI) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: NAVI stocks follows a lawsuit filed recently against Navient Corp over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: NAVI stocks, concerns whether certain Navient directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the New Jersey the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Navient engaged in deceptive practices to facilitate the origination of subprime loans, that Navient committed unfair and deceptive acts by steering student borrowers into payment plans that postponed bills, allowing interest to accumulate, rather than helping them enroll in income-driven repayment plans, and that as a result, Navient's public statements were materially false and misleading at all relevant times.
Wilmington, DE based Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. Navient Corp reported that its annual Total Revenue rose from $2.22 billion in 2015 to $1.7 billion in 2016 and that its Net Income declined from $983 million in 2015 to $681 million in 2016.
Over the past year and a half, Navient has been hit with a number of lawsuits. The Consumer Financial Protection Bureau and Attorney Generals from Illinois and Washington have sued about alleged student loan servicing violations including: steering borrowers away from income-based repayment plans; obscuring renewal deadlines for borrowers enrolled in income-based repayment plans; handling payments incorrectly; misrepresenting the effects of loan rehabilitation; misreporting information to credit bureaus about disabled borrowers; and making predatory loans to students likely to default. Securities fraud class action lawsuits have also been filed regarding misrepresentations to investors, the disclosure of which allegedly caused the stock price to drop.
Those who purchased shares of Navient Corp (NASDAQ:NAVI) have certain options and should contact the Shareholders Foundation.
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