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Navient Investors Win Final Court Nod for $35 Million Settlement

March 18, 2022, 5:09 PM

Navient Corp. and investors who say the company misled them about its loan portfolio secured final approval for a $35 million deal ending their securities dispute from a federal judge in Delaware.

The cash deal, which the student loan servicer’s investors say is the fifth largest securities class action settlement in the history of the U.S. District Court for the District of Delaware, resolves allegations that Navient made misleading statements about the quality of its loan portfolio and its loan loss provisions.

The settlement covers two groups of investors, Judge Maryellen Noreika’s Thursday judgment approving the deal said. The Exchange ...