Kennedy Asks SEC To Probe Stock Deal

Law360, New York (April 12, 2007, 12:00 AM EDT) -- As part of an ongoing investigation into the student loan industry, Senator Edward M. Kennedy has asked the U.S. Securities and Exchange Commission to look into a stock deal involving the president of a student loan corporation and officers at several major universities.

Kennedy on Wednesday sent a letter to the SEC alerting the agency to a 2001 deal in which financial aid officials at the University of Texas, the University of Southern California and Columbia University, as well as a U.S. Department of Education official,...
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