Sallie Mae Stock Purchasers Gain Class Cert.

Law360, New York (January 25, 2012, 2:56 PM EST) -- A New York federal judge on Tuesday certified a class of purchasers of Sallie Mae stock who claim the student loan provider hid its financial vulnerabilities in order to falsely inflate stock prices, saying the class alleged material misrepresentation and had an appropriate lead plaintiff.

U.S. District Judge William H. Pauley III certified a class consisting of all people or entities who bought Sallie Mae shares from Jan. 18, 2007, to Jan. 23, 2008, and who possessed shares on Dec. 19, 2007, Jan. 3, 2008, or...
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