NEW ORLEANS–(COMMERCIAL THREAD) – Former Louisiana Attorney General Charles C. Foti, Jr., Esq., Partner at Kahn Swick & Foti, LLC (“KSF”) law firm, announces that KSF is continuing its investigation into Navient Corporation (NasdaqGS: NAVI).
Throughout 2017 and 2018, several civil lawsuits were brought against the company by attorneys general in Illinois, Pennsylvania, Washington, California and Mississippi and the US Consumer Financial Protection Bureau (“CFPB” ) and for violations of state and / or federal consumer protection laws. , based on allegations of widespread misconduct detrimental to borrowers of the loans it manages. The Company has also received separate CIDs or subpoenas from the Attorneys General of the District of Columbia, Kansas, Oregon, Colorado, New Jersey, New York and Indiana for similar reasons. In October 2020, the New Jersey attorney general also filed a lawsuit against the company for violating New Jersey consumer protection laws, alleging that it is “engaged in unreasonable business practices, deceptive conduct and statements. inaccurate when servicing thousands of New Jersey consumer student loans. . ”
The Company has also been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws. Recently, a New Jersey federal judge certified the group in the consolidated case, allowing the case to go even further.
The actions of the Company’s officers exposed it to penalties, fines and other potential financial losses resulting from the numerous investigations and lawsuits initiated by public officials, consumers and shareholders.
KSF’s investigation focuses on whether the officers and / or directors of Navient violated their fiduciary duties to Navient shareholders or violated state or federal laws.
If you have any information that could assist KSF in its investigation, or if you have been a long-time holder of Navient shares and would like to discuss your legal rights, you can call toll-free at no cost to you. at 1-877 -515-1850 or email Lewis Kahn, Managing Partner of KSF ([email protected]), 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 specializing in securities, antitrust and consumer class actions, as well as mergers and acquisitions. and the violation 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 can visit www.ksfcounsel.com.