A lawsuit was filed on behalf of investors in Navient Corp (NASDAQ:NAVI) shares over alleged securities laws violations. Deadline: April 11, 2016. NASDAQ:NAVI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/09/2016 -- A shareholder of Navient Corp filed a lawsuit in the U.S. District Court for the District of Delaware against Navient Corp over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
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.
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 858-779-1554.
The plaintiff claims that between May 9, 2014 and February 5, 2016 defendants issued 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' business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
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."
Those who purchased shares of Navient Corp (NASDAQ:NAVI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com