The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired SLM Corporation a/k/a Sallie Mae (“SLM” or the “Company”) (NASDAQ: SLM) securities during the period of July 25, 2025 through August 14, 2025, inclusive (“the Class Period”).

If you suffered a loss on your SLM investments, you have until February 17, 2026 to request lead plaintiff appointment. For more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is This Lawsuit About? The lawsuit alleges SLM made false and/or misleading statements and/or failed to disclose that: (i) SLM was experiencing a significant increase in early stage delinquencies and (ii) accordingly, SLM overstated the effectiveness of SLM's loss mitigation and/or loan modification programs, as well as the overall stability of the Company's PEL delinquency rates.

On August 14, 2025, investment bank TD Cowen issued a report addressing SLM, flagging that, “overall, July [2025] delinquencies were up 49 bp m/m, higher (worse) than the seasonal (+10 bps) performance for July, driven by a 45 bps increase in early stage delinquencies.” Notably, TD Cowen’s findings directly contradicted assurances made late in the month of July 2025 that SLM were observing delinquency rates that “really are following the normal seasonal trends we would expect in the business.” On this news, the price of SLM shares declined by $2.67 per share, or approximately 8.1%, from $32.99 per share on August 14, 2025 to close at $30.32 on August 15, 2025.

[LEARN MORE ABOUT THE LAWSUIT]

The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

What Should I Do? If you purchased or otherwise acquired SLM securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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