All Education Matters: Lead Plaintiff SLM Ventures Files Class Action Suit Against SLM Corporation ("Sallie Mae")

All Education Matters: Lead Plaintiff SLM Ventures Files Class Action Suit Against SLM Corporation ("Sallie Mae"):

Lead Plaintiff SLM Ventures Files Class Action Suit Against SLM Corporation ("Sallie Mae")

by Cryn Johannsen

Courthouse News Services reports:

A federal judge has certified a securities fraud class action against Sallie Mae, the top student loan provider in the United States.

Lead plaintiff SLM Ventures accused SLM Corp., Sallie Mae's corporate name, of telling investors it used strict underwriting standards for its loans, while weakening those standards by approving risky loans to students at for-profit schools.

The suit was filed in the Southern District Court of New York (a copy of the pdf filing is here).

What's the primary reason why the plaintiff filed suit? Sallie Mae offers federally guaranteed loans and private