NAVIENT INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation – NAVI
NEW ORLEANS--(BUSINESS WIRE)--Jan 4, 2019--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Navient Corporation (NasdaqGS: NAVI).
Throughout 2017 and 2018, Navient was sued in several civil lawsuits filed by the U.S. Consumer Financial Protection Bureau (“CFPB”) and Attorneys General from Illinois, Pennsylvania, Washington, California and Mississippi for violations of state and federal consumer protection laws, based on allegations of widespread acts of misconduct detrimental to borrowers of the loans it services. Recently, the federal court presiding over the Pennsylvania Attorney General’s suit against Navient rejected the Company’s attempt to dismiss the case due to the pending CFPB lawsuit, allowing that case to proceed.
On October 3, 2018, a consumer class action lawsuit was filed against the Company for misleading borrowers regarding their loan servicing options in violation of numerous state and federal laws. The Company has also been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which is ongoing.
The actions of the Company’s executives have exposed it to potential penalties, fines and other financial losses from the numerous investigations and lawsuits by public officials, consumers and shareholders.
KSF’s investigation is focusing on whether Navient’s officers and/or directors breached their fiduciary duties to Navient’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Navient shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ( firstname.lastname@example.org ), or visit https://www.ksfcounsel.com/cases/nasdaqgs-navi/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190104005057/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2019.
PUB: 01/04/2019 10:50 PM/DISC: 01/04/2019 10:50 PM