NEW YORK, Feb. 8, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Navient
Corporation ("Navient or the "Company") (NASDAQ: NAVI). Such
investors are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
The investigation concerns whether Navient and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On August 1, 2014, post-market,
Navient disclosed a Consumer Finance Protection Bureau (CFPB)
investigation into the student loan servicer's handling of loans,
disclosures, and assessments of late fees.
On this news, Navient shares fell $0.17, or 1%, to close at $17.17 on August 4,
2014.
On August 24, 2015, post-market,
the company reported that on August 19,
2015 wholly-owned subsidiary Navient Solutions, Inc. (NSI)
received a Notice and Opportunity to Respond and Advise letter
providing notice that the CFPB's Office of Enforcement is
considering recommending that CFPB take legal action against NSI
related to the previously disclosed investigation. The CFPB
may seek restitution, civil monetary penalties, and corrective
action against NSI.
On this news, the company's shares fell $1.01, or nearly 7.73% to close at $12.05 on August
25, 2015.
On February 6, 2016, U.S.
presidential candidate Hillary
Clinton stated that Navient's "behavior is outrageous" and
that the company has been "misleading people" and "doing some
really terrible things."
On this news, Navient stock has fallen as much as $0.73, or 7.7%, to $8.78 during intraday trading on February 8, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los
Angeles, and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlawfirm.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP