NAVIENT INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Navient Corporation
April 22 2016 - 9:03PM
Business Wire
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).
On August 19, 2015, Navient’s wholly-owned subsidiary Navient
Solutions, Inc. (“NSI”) received a Notice and Opportunity to
Respond and Advise letter from the Consumer Financial Protection
Bureau (“CFPB”) providing notice that the CFPB’s Office of
Enforcement was considering recommending that the CFPB take legal
action against NSI related to its investigation into NSI’s
disclosures and assessment of late fees and other matters, which
had been previously disclosed in May 2014. The letter further
stated that the CFPB may seek restitution, civil monetary penalties
and corrective action against NSI.
Then, on February 11, 2016, a securities fraud class action case
was brought against Navient, alleging that the Company violated
federal securities laws by making false and misleading statements
to shareholders regarding the Company’s business, operational and
compliance policies.
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
(lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160422005002/en/
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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