On or around 08/24/2020 (Date of last review)
Filing Date: October 16, 2017
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. The consolidated Cases shall be identified as: “in re Navient Corporation Securities Litigation." Lead Plaintiff filed an amended Complaint on April 3. 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.
Company & Securities Information
Defendant: Navient Corporation
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: NAVI
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.