An investigation was announced for investors in NASDAQ:NAVI shares over potential breaches of fiduciary duties by certain Navient Corp directors.
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 concerns whether certain Navient directors breached their fiduciary duties and caused damage to the company and its shareholders.
Navient Corp reported that its annual Total Revenue declined from $4.73 bilion in 2014 to over $4.14 billion in 2016 and that its Net Income declined from over $1.14 billion in 2014 to $681 million in 2016.
On January 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against Navient Corp (formerly known as Sallie Mae, Inc.), alleging that Navient Corp illegally created obstacles to repayment of the student loans it services and manages by providing bad information, incorrectly processing payments, and failing to address borrowers’ complaints.
The CFPB further alleges that Navient Corp cheated many borrowers out of their rights to lower repayments, which caused them to pay more for their loans.
The CFPB also asserted that Navient Corp made it more difficult for borrowers to obtain the right to pay their loans according to what they can afford.
Shares of Navient Corp (NASDAQ:NAVI) closed on March 3, 2017 at $14.90 per share.
Those who purchased NASDAQ:NAVI shares 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