Prnewswire·2026-02-11 14:31Core Viewpoint - SLM Corporation is facing a federal securities class action due to allegations of making false and misleading statements regarding its financial health, particularly concerning increasing early-stage delinquencies and the effectiveness of its loss mitigation programs [1] Group 1: Allegations Against SLM Corporation - The complaint alleges that SLM and its executives violated federal securities laws by failing to disclose a significant increase in early-stage delinquencies [1] - Defendants are accused of overstating the effectiveness of SLM's loss mitigation and loan modification programs, as well as the overall stability of the Company's PEL delinquency rates [1] - Public statements made by the defendants created a materially false and misleading impression regarding SLM's business operations and prospects [1] Group 2: Impact of TD Cowen's Report - On August 14, 2025, TD Cowen reported that July 2025 delinquencies increased by 49 basis points month-over-month, which was worse than the seasonal increase of 10 basis points [1] - The report highlighted a 45 basis point increase in early-stage delinquencies, contradicting previous assurances from SLM's executives that delinquency rates were following normal seasonal trends [1] - Following the report, SLM's stock price dropped by $2.67 per share, or 8.09%, closing at $30.32 per share on August 15, 2025 [1]