December 30, 2019 - The court denied the defendants' motion to dismiss.

April 29, 2019 - A motion to dismiss the second amended complaint was filed.

March 18, 2019 - A second amended complaint was filed.

April 3, 2018 - An amended complaint was filed.

October 16, 2017 - An investor in shares of Navient Corp (NASDAQ:NAVI) filed a lawsuit in the U.S. District Court for the New Jersey over alleged violations of Federal Securities Laws by Navient Corp in connection with certain allegedly false and misleading statements made between February 25, 2016 and October 4, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Navient Corp (NASDAQ:NAVI) common shares between February 25, 2016 and October 4, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 25, 2016 and October 4, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Navient engaged in deceptive practices to facilitate the origination of subprime loans, that Navient committed unfair and deceptive acts by steering student borrowers into payment plans that postponed bills, allowing interest to accumulate, rather than helping them enroll in income-driven repayment plans, and that as a result, Navient’s public statements were materially false and misleading at all relevant times.

Wilmington, DE based Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. Navient Corp reported that its annual Total Revenue rose from $2.22 billion in 2015 to $1.7 billion in 2016 and that its Net Income declined from $983 million in 2015 to $681 million in 2016.

Over the past year and a half, Navient has been hit with a number of lawsuits. The Consumer Financial Protection Bureau and Attorney Generals from Illinois and Washington have sued about alleged student loan servicing violations including: steering borrowers away from income-based repayment plans; obscuring renewal deadlines for borrowers enrolled in income-based repayment plans; handling payments incorrectly; misrepresenting the effects of loan rehabilitation; misreporting information to credit bureaus about disabled borrowers; and making predatory loans to students likely to default. Securities fraud class action lawsuits have also been filed regarding misrepresentations to investors, the disclosure of which allegedly caused the stock price to drop.