An investigation for investors in NASDAQ:NAVI shares was announced concerning potential breaches of fiduciary duties by certain directors of Navient.
Wilmington, DE based Navient Corporation is a loan management, servicing and asset recovery company. 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 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 investors in NASDAQ:NAVI stocks follows a lawsuit filed 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.
The plaintiff alleges that the 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.
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.”
Those who purchased NASDAQ:NAVI shares have certain options and should contact the Shareholders Foundation.
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