The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Navient Corporation (NASDAQ: NAVI) who purchased shares between February 25, 2016 and October 4, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges 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.
Shareholders have until December 15, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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