Sallie Mae Dodges 1 Of 2 Securities Actions

Law360, New York (September 27, 2010, 6:21 PM EDT) -- Sallie Mae Inc. has won the dismissal of one of two securities class actions lodged over a drop in the student lending giant's stock price, scoring the dismissal of a suit that had claimed the company violated the Employee Retirement Income Security Act but losing a bid to toss a shareholder suit.

Judge William H. Pauley III of the U.S. District Court for the Southern District of New York nixed the ERISA suit lodged by participants in a company savings plan and 401(k), in part, because...
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