Investor Firms Seek Lead Plaintiff in Sallie Mae Securities Suit as Feb. 17 Deadline Nears
The case alleges undisclosed growth in early‑stage delinquencies that came to light in an August TD Cowen report.
Overview
- Filed in the U.S. District Court for the District of New Jersey as Zappia v. SLM Corporation, the lawsuit targets SLM Corporation a/k/a Sallie Mae and certain executives.
- Investors who bought SLM securities between July 25, 2025 and August 14, 2025 are invited to seek lead‑plaintiff status by February 17, 2026.
- The complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b‑5.
- Plaintiffs cite TD Cowen’s August 14, 2025 note reporting a 49‑basis‑point month‑over‑month rise in July delinquencies, driven by early‑stage accounts, followed by an approximately 8% share‑price decline.
- Robbins Geller, The Schall Law Firm, DJS Law Group, The Gross Law Firm, and Levi & Korsinsky have issued late‑December notices, and the class has not been certified.