SAN DIEGO & WILMINGTON, Del.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Navient Corporation (NasdaqGS: NAVI) breached their fiduciary duties to shareholders by engaging in improper lending practices. Navient provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/navient-corporation-october-2017
Navient Accused of Engaging in Predatory Loan Practices
Navient, which has been the focus of multiple lawsuits this past year, is now the subject of another federal lawsuit. The complaint, filed by Pennsylvania Attorney General Josh Shapiro, alleges that Navient officials peddled risky and expensive subprime loans that they knew were likely to default and failed to perform core servicing duties while servicing student loans. Students borrowed from Navient under the assumption that Navient's loans and packages were designed to help students get the most out of their financial aid. Instead, Navient's loan practices featured payment plans that postponed bills and allowed interest to accumulate, ultimately leaving borrowers struggling with higher payments or defaulting entirely.
Navient Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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