Prnewswire·2026-02-12 21:02Core Viewpoint - A class action lawsuit has been filed against SLM Corporation and certain officers for alleged violations of federal securities laws during the Class Period from July 25, 2025, to August 14, 2025, seeking damages for investors who purchased SLM securities during this time [1] Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the District of New Jersey, under docket number 25-cv-18834, representing all persons and entities, excluding defendants, who invested in SLM securities during the specified Class Period [1] - Investors have until February 17, 2026, to request appointment as Lead Plaintiff for the class [1] Group 2: Company Overview - SLM Corporation, commonly known as Sallie Mae, primarily originates and services private education loans (PELs) to students and their families, emphasizing its "high-quality" PELs and loss mitigation programs [1] - The company classifies PELs as in repayment when borrowers are making interest-only or fixed payments, or have entered full principal and interest repayment status after any applicable grace period [1] Group 3: Financial Metrics and Concerns - Delinquency rates on SLM's PELs are a critical metric for investors assessing the health and profitability of the business [1] - Defendants allegedly misled investors by attributing rising delinquency rates to "normal seasonal trends" and minor refinements in loan offerings, while failing to disclose significant increases in early-stage delinquencies [1] Group 4: Impact of Findings - On August 14, 2025, TD Cowen reported a 49 basis point month-over-month increase in July 2025 delinquencies, contradicting prior reassurances from SLM's executives [1] - Following the TD Cowen report, SLM's stock price fell by $2.67 per share, or 8.09%, closing at $30.32 per share on August 15, 2025 [1]