NAVIENT INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Navient Corporati...
April 08 2016 - 10:03PM
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 (Nasdaq: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.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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