Navient Corporation is a U.S. company whose operations include servicing and collecting federal and private student loans.

According to the Law Firm press release, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Navient engaged in deceptive practices to facilitate the origination of subprime loans; (2) Navient committed unfair and deceptive acts by steering student borrowers into payment plans that postponed bills, allowing interest to accumulate, rather than helping them enroll in income-driven repayment plans; and (3) as a result, Navient’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On February 2, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel and consolidating Cases. All future docketing was ordered to be done in the lead case 17-CV-08373.

Lead Plaintiff filed an amended Complaint on April 3, 2018. Lead Plaintiff filed a second amended Complaint on March 18, 2019. Defendants filed a Motion to Dismiss the second amended Complaint on April 29. On December 30, the Court issued an Order denying Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on August 21, 2020. The Court issued an Order granting the Motion for Class Certification on March 11, 2021.

On November 16, 2021, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on November 22. On April 12, 2022, the Court granted final approval of the Settlement, including an award of Attorneys' Fees and Expenses, and entered Final Judgment.

On March 13, 2023, the Court issued an Order approving distribution of the net Settlement funds.