Borrowers Denied Cert. In Sallie Mae Student-Loan Case

Law360, San Francisco (March 24, 2014, 9:16 PM EDT) -- A California federal judge on Monday refused to certify a proposed class action seeking to represent approximately 100,000 California student-loan borrowers who say Sallie Mae Inc. illegally charged them late fees or excessive interest, finding some of the potential subclasses insufficiently similar.

U.S. District Court Magistrate Judge Elizabeth LaPorte said in Monday's ruling that the proposed groupings, including a class accusing Sallie Mae of using an “unenforceable” choice of law class and two subclasses of borrowers who say they were charged illegal late fees and excessive...
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