Navient Investors Seek Final Court Approval of $35 Million Deal

Navient Corp. investors who say the company misled them about its loan portfolio asked a federal judge in Delaware to sign off on a $35 million settlement ending their securities suit.

The cash deal “would rank as the fifth largest securities class action settlement” in the court’s history if approved, the student loan servicer’s investors told the U.S. District Court for the District of Delaware in a memo filed in support of their final settlement approval motion.

Investors allege that Navient made multiple misleading statements about its loans, including about the quality of its loan portfolio and its loan loss ...