April 25, 2007
SEC Is Investigating Stock Sales at Sallie Mae
In a SEC filing, Sallie Mae reported that the SEC is investigating trading in the stock by two directors and trading in its stock prior to the April 16 announcement of its sale to four private firms. The Washington Post had previously reported that the SEC was investigating Chairman Alfred L. Lord's stock sale shortly before the government announced proposed cuts to subsidies to student loan providers. See WPost, Sallie Mae Board Members Under SEC Trading Probe.
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