The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Delaware on behalf of investors who purchased Navient Corporation (NASDAQ: NAVI) securities between April 17, 2014 and December 28, 2015.
The complaint alleges that during the Class Period, defendants materially misstated the Company’s business metrics and financial prospects by failing to disclose that: (a) an increased number of higher risk Private Education Loan borrowers were not timely repaying their loans; (b) Navient’s loan loss reserves were materially understated; (c) the Company was engaged in unsound business practices; (d) the Company’s operating structure was bloated; (e) a significant portion of the Company’s low-rate credit facilities were at risk of being reduced or eliminated, which would cause the Company to face higher borrowing costs; and (f) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s prospects and growth.
If you suffered a loss in Navient you have until April 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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