Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Navient Corporation (NASDAQ: NAVI) in connection to alleged violations of securities laws by NAVI. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Navient Corporation between February 25, 2016 and October 4, 2017.
The class action complaint specifically alleges that during the period in question, NAVI might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company participated in deceptive activities in its facilitation of subprime lending; that the company engaged in unfair and deceptive practices when it directed student borrowers toward financial aid plans that involved postponing bills, thus causing an increase in interest, rather than assisting these students in the enrollment of loan repayment plans that were based on income; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, Navient Corporation is a “leading provider of asset management and business processing solutions for education, healthcare and government clients.” It services clients at local, federal and state levels. The company is headquartered in Wilmington, Delaware, though it has operations in Indiana, New York, Pennsylvania, Tennessee, Texas, Virginia, Wisconsin and “other locations.”
A class action lawsuit has already been filed in connection with Navient Corporation. If you wish to serve as lead plaintiff in the NAVI lawsuit, you must move the Court no later than December 15, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.