Businesswire·2026-01-22 23:00Core Viewpoint - A class action lawsuit has been filed against SLM Corporation (Sallie Mae) for allegedly making false statements regarding its financial stability and delinquency rates during a specific period in 2025 [3][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased SLM securities between July 25, 2025, and August 14, 2025, alleging that SLM failed to disclose significant increases in early-stage delinquencies [3]. - The lawsuit claims that SLM overstated the effectiveness of its loss mitigation and loan modification programs, as well as the overall stability of its PEL delinquency rates [3]. 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 worse than the expected seasonal increase of 10 basis points, driven by a 45 basis points rise in early-stage delinquencies [4]. - Following the report, SLM's share price dropped by $2.67, or approximately 8.1%, from $32.99 on August 14, 2025, to $30.32 on August 15, 2025 [4].