Navient Investors Get Class Cert. In Stock Inflation Suit

Law360 (August 25, 2020, 10:17 PM EDT) -- Navient investors won a bid Tuesday to pursue their stock price inflation suit as a class action, though the Delaware federal judge who granted the request pared back one of the classes based on a challenge by the student loan servicing giant.

U.S. District Judge Maryellen Noreika certified one class of investors with claims under the Securities Act of 1933 and a second trimmed class with claims under the Securities Exchange Act of 1934 in the case against Navient Corp. and others including CEO John Remondi and underwriters on two debt offerings from 2014 and 2015.

Navient had argued that the...

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