Scott+Scott, Attorneys at Law, LLP Is Investigating Claims on Behalf of Shareholders of Navient Corporation (NAVI)
Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that it is investigating whether certain officers and directors of Navient Corporation (“Navient” or the “Company”) (NASDAQ:NAVI) breached their fiduciary duties owed to the Company and its shareholders. If you are a Navient shareholder, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for additional information.
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program. It services its own portfolio of education loans, as well as education loans owned by the U.S. Department of Education, financial institutions and nonprofit education lenders.
Over the past year and a half, Navient has been hit with a number of lawsuits alleging student loan servicing violations including: steering borrowers away from income-based repayment plans; obscuring renewal deadlines for borrowers enrolled in income-based repayment plans; handling payments incorrectly; misrepresenting the effects of loan rehabilitation; misreporting information to credit bureaus about disabled borrowers; and making predatory loans to students likely to default. Securities fraud class action lawsuits have also been filed regarding misrepresentations to investors.
Last month, both the AFL-CIO and Sen. Elizabeth Warren and Rep. Suzanne Bonamici asked the U.S. Securities and Exchange Commission to look into possible insider trading, pointing to three large blocks of Navient stock that were purchased ahead of news that the U.S. Department of Education had ended information-sharing agreements with the Consumer Financial Protection Bureau.
Scott+Scott’s investigation concerns whether Navient’s Board of Directors failed to implement appropriate procedures and controls to prevent the alleged violations.
What You Can Do
If you are a Navient shareholder, you may have legal claims against Navient’s officers and directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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Scott+Scott, Attorneys at Law, LLP
Joe Pettigrew, 844-818-6982
[email protected]
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