NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 15, 2017 to file lead plaintiff applications in a securities class action lawsuit against Navient Corporation (NasdaqGS: NAVI), if they purchased the Company’s securities between February 25, 2016 through October 4, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
Navient investors should visit us at https://www.claimsfiler.com/cases/view-navient-corporation-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Navient and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 5, 2017, the Pennsylvania Attorney General announced a lawsuit against Navient for unfair and deceptive lending practices associated with the origination of subprime loans to high risk borrowers as well as guiding borrowers to payment postponement plans (thereby allowing loan interest to accumulate), rather than promoting income-based repayment plans.
On this news, the price of Navient’s shares plummeted $2.10 per share, or over 14%, from its previous closing price to close at $12.60 per share.
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