NEW YORK, Nov. 12, 2015 /PRNewswire/ -- Levi &
Korsinsky announces it has commenced an investigation of Navient
Corporation (NASDAQ: NAVI) concerning 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. Navient cited, in large
part, the poor performance of its Private Educational Loan
portfolio, emphasizing that borrowers who returned to school during
the recession had not been repaying their loans on a timely basis.
As a result, Navient disclosed that it would be forced to increase
its Private Education Loan portfolio loan loss provision to
$191 million for the second quarter
of 2015 and to between $575 million and $600
million for 2015, diminishing earnings.
Then on August 24, 2015, the
Company reported that on August 19,
2015, wholly-owned subsidiary Navient Solutions, Inc.
received a Notice and Opportunity to Respond and Advise letter,
providing notice that the Consumer Finance Protection Bureau's
Office of Enforcement is considering recommending the commencement
of legal action against Navient Solutions, Inc. To obtain
additional information, go to:
http://zlk.9nl.com/navient-corporation-navi
or contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP