SALLIE MAE 401(k) SAVINGS PLANS

On January 3, 2008, SLM Corporation ("Sallie Mae" or the "Company") disclosed that it would be cutting back on its core business of lending to students by being "more selective" in making students loans due to turmoil in the credit markets and a new federal law that slashed subsidies to the private companies that make government-backed student loans. On this news, Sallie Mae's stock dropped $2.49 per share to close at $16.67 per share. Sallie Mae and other administrators of the Sallie Mae 401(k) Savings Plans (the "Plans") may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plans. A breach may have occurred if the fiduciaries failed to manage the assets of the Plans prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.

Sallie Mae employees who own Sallie Mae stock through the Plans may be able to recover some of their losses. If you or anyone you know is a member of the Sallie Mae Plans and purchased Sallie Mae stock through the Plans, please complete a Sallie Mae Complaint Form for a free evaluation.

Sallie Mae 401(k) Savings Articles

Sallie Mae 401(k): Their Stock Dropped, and Yours May Have, Too...
A move by Sallie Mae (SLM Corporation) to cut back on its core business has resulted in the corporation taking a stock hit. After the move was announced January 3, SLM Corporation stock dropped a sizeable $2.49 per share, closing at $16.67 per share.

Sallie Mae 401(k) Savings Plan Legal Help

If you or a loved one has suffered damages in this case, please click the link below to send your complaint to a lawyer to evaluate your claim at no cost or obligation.
Last updated on Mar-10-08