INVESTOR ALERT: Navient Corporation Shareholders Encouraged to Contact The Wagner Firm Regarding Investigation
July 17 2015 - 3:07PM
Business Wire
The Wagner Firm 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 July 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’s shares plummeted over 10% to close on
July 14, 2015 at $16.42, a one-day decline of $1.94 per share, on
very heavy volume.
If you purchased shares of Navient prior to July 14,
2015, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Avi Wagner,
Esquire, of The Wagner Firm, 1925 Century Park East, Suite 2100,
Los Angeles, California 90067, at 310-491-7949, by e-mail
at info@thewagnerfirm.com, or visit our website at
http://thewagnerfirm.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150717005747/en/
The Wagner Firm, Los AngelesAvi Wagner,
310-491-7949info@thewagnerfirm.comwww.thewagnerfirm.com
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