Beryl

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA San Francisco Division LOUIS BERYL, Case No. 20-cv-05920-LB

Plaintiff, FINDINGS OF FACT AND

CONCLUSIONS OF LAW

v.

NAVIENT CORPORATION, et al., Defendants. 16 INTRODUCTION Plaintiff Louis Beryl started an online student-lending company called Earnest, Inc. Defendant Navient Corporation — which services and collects private and federal student loans through its subsidiary Navient Solutions LLC — acquired Earnest, Inc. for approximately $155 million and hired Mr. Beryl and his team to run a new Navient Corporation entity called Earnest LLC. After several months, Navient fired Mr. Beryl, who sued Navient for (1) severance pay due to him under an executive-severance plan, in violation of ERISA § 502(a)(1)(B), (2) breach of fiduciary duties for the denial of benefits, in violation of ERISA § 502(a)(3), (3) breach of his employment contract, and (4) waiting-time penalties under…