SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

February 23, 2016 14:55 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Navient Corporation of Class Action Lawsuit and a Lead Plaintiff Deadline of April 11, 2016 -- NAVI

NEW YORK, NY--(Marketwired - February 23, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Navient Corporation ("Navient") (NASDAQ: NAVIbetween April 17, 2014 and December 28, 2015.

You are hereby notified that a securities class action has been commenced in the USDC for the District of Delaware. If you purchased or otherwise acquired Navient securities between April 17, 2014 and December 28, 2015, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/navient.

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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/navient.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT: 
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004 
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com