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Burch et al v. SLM Corporation et al
Case Number:
1:08-cv-01029
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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April 20, 2012
Sallie Mae To Pay $35M To Resolve Stock Drop Suit
A New York federal judge gave preliminary approval Wednesday to a $35 million settlement of a shareholder class action alleging lender Sallie Mae and parent SLM Corp. concealed risky subprime student loans in Sallie Mae's portfolio that ultimately caused a stock price drop.
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January 25, 2012
Sallie Mae Stock Purchasers Gain Class Cert.
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.