NAVI INVESTOR ALERT: Investigation of Navient Corporation Announced by The Law Offices of Howard G. Smith
July 13 2015 - 7:36PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Navient
Corporation (“Navient” or the “Company”) (NASDAQ:NAVI) concerning
the Company’s and its officers’ possible violations of federal
securities laws.
On June 13, 2015 the Company announced a substantial cut to its
prior financial guidance for the remainder of its 2015 annual
performance. The Company now expects second-quarter core earnings
of $0.40 per share, and full-year 2015 core earnings of $1.85 per
share. Regarding its cut in 2015 guidance, the Company stated in
relevant part, “the company has removed from 2015 guidance
additional private loan acquisitions. The company also has reduced
its forecast for net interest income as a result of increased cost
of funds. As a result, for the second half of 2015, the net
interest margin is projected to range between 3.83 percent and 3.85
percent for private education loans and between 0.81 percent and
0.85 percent for FFELP loans.” Jack Remondi, Navient CEO further
stated, “the changes to our guidance reflect marketplace conditions
for private loan portfolio purchases and cost of funds, as well as
a conservative assessment of default trends for a small and
declining segment of our private education loan portfolio.” On this
news, the price of Navient shares plummeted by nearly 14% in
after-hours trading.
If you purchased shares of Navient prior to June 13, 2015, have
information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150713006409/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
Navient (NASDAQ:NAVI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Navient (NASDAQ:NAVI)
Historical Stock Chart
From Apr 2023 to Apr 2024