NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Navient Corporation (NasdaqGS: NAVI).
On January 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against Navient Corporation (formerly known as Sallie Mae, Inc.), alleging that Navient 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 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 made it more difficult for borrowers to obtain the right to pay their loans according to what they can afford.
KSF’s investigation is focusing on whether Navient’s officers and/or directors breached their fiduciary duties to Navient’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-time holder of Navient shares, and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
