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Navient Corporation

Case Summary

Navient Corporation Securities Litigation

Case Summary

Case Status:    ONGOING    
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

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

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.

First Identified Complaint

Eli Pope, et al. v. Navient Corporation, et al.

COURT: D. New Jersey
DOCKET #: 17-CV-08373
JUDGE: Hon. Robert B. Kugler
DATE FILED: 10/16/2017
CLASS PERIOD START: 02/25/2016
CLASS PERIOD END: 10/04/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (New Jersey)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 10/16/2017
2 Notice of Motion and Motion of Navient Investor Group for Consolidation of the Actions, Appointment of Lead Plaintiff and Approval of Selection of Counsel 12/15/2017
3 Order 02/02/2018
4 U.S. District Court Civil Docket 02/02/2018

Reference Complaint

In re Navient Corporation Securities Litigation

COURT: D. New Jersey
DOCKET #: 17-CV-08373
JUDGE: Hon. Robert B. Kugler
DATE FILED: 03/18/2019
CLASS PERIOD START: 01/18/2017
CLASS PERIOD END: 11/20/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws 04/03/2018
2 Second Amended Class Action Complaint for Violation of the Federal Securities Laws 03/18/2019
3 Opinion 12/30/2019
4 Order 12/30/2019
5 U.S. District Court Civil Docket 08/24/2020

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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