Federal Jury Rules in Favor of Sallie Mae
(Washington, D.C.) – After a seven-day trial in the U.S. District Court for the Eastern District of Virginia before the Honorable James Cacheris, a federal jury ruled today in favor of SLM Corporation, Sallie Mae, Inc., Student Loan Marketing Association and Sallie Mae Servicing, L.P. on all counts in a lawsuit brought by College Loan Corporation.
The case, which at one point asserted 13 different counts, including several antitrust claims – most of which were eliminated by the court or dismissed from the case before trial – concerned allegations made by College Loan Corporation regarding how Sallie Mae processed loan consolidation applications and loan verification certificates. The case involved the Single Holder Rule under the Higher Education Act.
Akin Gump Strauss Hauer & Feld LLP represented Sallie Mae at trial.
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