The Shareholders Foundation announces that an investigation on behalf of investors of Navient Corp (NASDAQ:NAVI) shares is ongoing concerning potential securities laws violations by Navient Corp and certain of its directors and officers.
Investors who purchased shares of Navient Corp (NASDAQ:NAVI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Navient Corp (NASDAQ:NAVI) concerning whether a series of statements by Navient Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Navient Corp, formerly known as Sallie Mae, reported that its annual Total Revenue declined from over $5.37 billion in 2013 to $4.73 billion in 2014 and that its respective Net Income declined from over $1.41 billion in 2013 to over $1.14 billion in 2014. Shares of Navient Corp (NASDAQ:NAVI) grew from $15.74 per share in May 2014 to as high as $22.57 per share in late December 2014, respectively $22.37 per share in February 2015.
Navient Corp received a Civil Investigative Demand from the Consumer Financial Protection Bureau (the “CFPB”) as part of the CFPB’s separate investigation regarding allegations relating to Navient’s disclosures and assessment of late fees and other matters. According to the investigation by the law firm the U.S. Department of Education is investigating Department of Justice allegations that Navient Corp intentionally cheated active-duty troops on their federal student loans. The investigation by U.S. Department of Education followed deal from May 2014 with the government in which Navient Corp reportedly settled federal accusations that it had intentionally overcharged about 60,000 active-duty troops on federal and private student loans over nearly a decade. Navient Corp, which neither admitted nor denied wrongdoing, agreed to pay $60 million to troops as part of its settlement with the Federal Deposit Insurance Corp. and the Department of Justice.
Shares of Navient Corp (NASDAQ:NAVI) closed on May 18, 2015, at $19.06 per share.
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