Core Viewpoint - A class action lawsuit has been filed against SLM Corporation (Sallie Mae) for alleged violations of the Securities Exchange Act of 1934, with a focus on misleading statements regarding delinquency rates in private education loans [1][3]. Group 1: Lawsuit Details - The class action lawsuit, titled Zappia v. SLM Corporation, allows investors who suffered losses between July 25, 2025, and August 14, 2025, to seek appointment as lead plaintiff by February 17, 2026 [1]. - The lawsuit alleges that SLM and its executives made false statements about the company's financial health, particularly regarding early stage delinquencies in private education loans [3][4]. Group 2: Allegations and Impact - The lawsuit claims that SLM experienced a significant increase in early stage delinquencies, contradicting previous assurances from the company's CFO about normal seasonal trends [3][4]. - A report from investment bank TD Cowen indicated that July 2025 delinquencies rose by 49 basis points month-over-month, which was worse than the expected seasonal increase of 10 basis points [4]. - Following the release of this report, SLM's stock price fell by approximately 8%, highlighting the market's reaction to the alleged misstatements [4]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who invested in SLM securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [5]. - The lead plaintiff can choose a law firm to represent the class, and participation as lead plaintiff does not affect an investor's ability to share in any potential recovery [5]. Group 4: Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [6]. - The firm has been recognized for its significant recoveries in securities class action cases, including the largest recovery in history of $7.2 billion in the Enron case [6].
SLM INVESTOR NOTICE: SLM Corporation a/k/a Sallie Mae Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit