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.