NEW YORK, Oct. 9, 2017 /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 firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Navient and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 5, 2017, Pennsylvania's Attorney General filed a lawsuit against Navient and its subsidiary Navient Solutions, LLC, alleging "widespread abuses" in Navient's student loan origination and servicing segments and deceptive lending practices. Among other abuses, the lawsuit alleges that Navient marketed predatory loans and steered student borrowers into payment plans that postponed bills, allowing interest to accumulate, rather than helping them enroll in income-driven repayment plans.
On this news, Navient's share price fell $2.10, or 14.25%, to close at $12.61 on October 5, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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 80 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.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP