Prnewswire·2026-01-06 15:33Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against SLM Corporation due to allegations of misleading statements regarding the company's financial health and delinquency rates, with a deadline for investors to seek lead plaintiff status in a class action lawsuit set for February 17, 2026 [2][4]. Group 1: Allegations Against SLM - The complaint alleges that SLM and its executives violated federal securities laws by making false and misleading statements and failing to disclose significant increases in early-stage delinquencies [4]. - It is claimed that SLM overstated the effectiveness of its loss mitigation and loan modification programs, as well as the overall stability of its PEL delinquency rates [4]. - As a result of these misleading statements, the public perception of SLM's business operations and prospects was materially affected [4]. Group 2: Financial Impact - On August 14, 2025, TD Cowen reported a 49 basis points month-over-month increase in delinquencies for July 2025, which was significantly worse than the seasonal average increase of 10 basis points [5]. - This report contradicted previous assurances from SLM's executives regarding delinquency rates following normal seasonal trends [5]. - Following the release of TD Cowen's report, SLM's stock price fell by $2.67 per share, or 8.09%, closing at $30.32 per share on August 15, 2025 [5]. Group 3: Legal Proceedings - The court-appointed lead plaintiff will be the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [6]. - Any member of the putative class can move the court to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [6]. - Faruqi & Faruqi encourages anyone with information regarding SLM's conduct to come forward, including whistleblowers and former employees [7].