Core Viewpoint - The SLM Corporation, also known as Sallie Mae, is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding the company's loan delinquency rates and loss mitigation programs [1][3]. Group 1: Class Action Details - Investors in SLM securities from July 25, 2025, to August 14, 2025, can seek appointment as lead plaintiff by February 17, 2026 [1]. - The lawsuit is titled Zappia v. SLM Corporation and is filed in the District of New Jersey [1]. - The allegations include that SLM experienced a significant increase in early-stage delinquencies, contradicting previous statements made by the company's executives [3][4]. Group 2: Financial Impact - A report from investment bank TD Cowen indicated that July 2025 delinquencies increased by 49 basis points month-over-month, which was worse than the seasonal average increase of 10 basis points [4]. - Following the release of this report, SLM's stock price fell by approximately 8% [4]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who suffered losses 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 the ability to share in any potential recovery [5]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading 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 ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [6].
INVESTOR DEADLINE: SLM Corporation a/k/a Sallie Mae Investors with Significant Losses Have Opportunity to Lead Class Action Lawsuit, Robbins Geller Rudman & Dowd LLP Announces