CORRECTED: SEC Investigating Sallie Mae Stock Deals

Law360, New York (January 23, 2008, 12:00 AM EST) -- Federal regulators are probing Sallie Mae regarding stock sales by company directors and executives, the student loan company revealed on Wednesday.

In a filing with the U.S. Securities and Exchange Commission, Sallie Mae said that the SEC requested information and documents last week about the company's disclosures and actions in December 2007 regarding the stock sales.

“We are cooperating with the SEC in order to provide the requested information and documents,” said the filing, which supplemented the company's fourth-quarter earnings announcement.

An SEC spokesman said the...
To view the full article, register now.