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Navient Corporation [NASDAQ: NAVI]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Navient Corporation

Oklahoma City, OK (October 18, 2017) – On October 16, 2017, a securities class action lawsuit was filed in the United States District Court for the District of New Jersey against Navient Corporation (NASDAQ: NAVI). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 25, 2016 through October 4, 2017. More specifically, this litigation was filed because Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company engaged in deceptive practices to facilitate the origination of subprime loans; (2) the Company 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 (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On October 5, 2017, the Pennsylvania Attorney General announced a lawsuit against Navient for unfair and deceptive lending practices associated with the origination of subprime loans to high risk borrowers as well as guiding borrowers to payment postponement plans (thereby allowing loan interest to accumulate), rather than promoting income-based repayment plans.

On this news, the price of Navient’s shares fell $2.10 per share, or over 14%, from its previous closing price to close at $12.60 per share.

Plaintiff seeks to recover damages on behalf of all Navient Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Friday, December 15, 2017 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.

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