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 August 19, 2015, Navient’s wholly-owned subsidiary Navient Solutions, Inc. (“NSI”) received a Notice and Opportunity to Respond and Advise letter from the Consumer Financial Protection Bureau (“CFPB”) providing notice that the CFPB’s Office of Enforcement was considering recommending that the CFPB take legal action against NSI related to its investigation into NSI’s disclosures and assessment of late fees and other matters, which had been previously disclosed in May 2014. The letter further stated that the CFPB may seek restitution, civil monetary penalties and corrective action against NSI.
Then, on February 11, 2016, a securities fraud class action case was brought against Navient, alleging that the Company violated federal securities laws by making false and misleading statements to shareholders regarding the Company’s business, operational and compliance policies.
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-term 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 (firstname.lastname@example.org).
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.