SLM Securities Class Action Enters Lead-Plaintiff Phase With Feb. 17 Deadline

Overview

• Investors in SLM Corporation securities from July 25, 2025 through August 14, 2025 are being invited to seek lead-plaintiff status by February 17, 2026.
• Filed in the District of New Jersey as Zappia v. SLM Corporation, the complaint alleges violations of Sections 10(b) and 20(a) and SEC Rule 10b-5.
• The complaint claims SLM concealed a significant rise in early-stage private education loan delinquencies and overstated the effectiveness of its loss mitigation and loan modification programs.
• A TD Cowen note on August 14, 2025 reported July delinquencies up 49 basis points month over month driven by a 45 bp increase in early-stage delinquencies, after which SLM shares fell about 8 percent, including a $2.67 drop to $30.32 on August 15.
• Multiple plaintiff firms are soliciting class members, the class has not been certified, and investors may participate without serving as lead plaintiff.