Businesswire·2025-12-24 17:04Core Viewpoint - A class action lawsuit has been filed against SLM Corporation (Sallie Mae) for allegedly misleading investors regarding the company's delinquency rates on private education loans during the specified class period from July 25, 2025, to August 14, 2025 [1][4]. Group 1: Lawsuit Details - The lawsuit claims that SLM Corporation made materially false and misleading statements about its business operations and failed to disclose significant increases in early-stage delinquencies [4]. - Investors have until February 17, 2026, to file a lead plaintiff motion in this class action [1]. Group 2: Impact on Stock Price - Following a report from TD Cowen on August 14, 2025, indicating higher delinquency rates than seasonal trends, SLM's stock price dropped by $2.67, or 8.1%, closing at $30.32 per share on August 15, 2025 [3]. - The report contradicted earlier statements made by SLM's CFO, who had claimed that delinquency rates were following normal seasonal trends [3]. Group 3: Allegations Against Defendants - The complaint alleges that the defendants overstated the effectiveness of SLM's loss mitigation and loan modification programs, leading to materially misleading statements about the company's stability and prospects [4]. - The lawsuit highlights that the positive statements made by the defendants lacked a reasonable basis at all relevant times [4].