Navient Gets Some Securities Claims Tossed

Student loan servicer Navient Corp. convinced a federal court Jan. 29 to partially dismiss an investor suit alleging its misleading disclosures led to a drop in stock price.

The claims based on Navient’s compliance and credit facility statements are dismissed, Judge Maryellen Noreika wrote for the U.S. District Court for the District of Delaware. It refused to dismiss claims based on statements about loans.

Navient’s stock price went from a high of $21.40 Feb. 27, 2015, to a low of $11.46 Dec. 28, 2015. Several investors sued, alleging the loss in value was attributable to false and misleading disclosures Navient ...