Source: Bloomberg
Summary
Chris Gray, founder of a startup acquired by Sallie Mae, is suing the company for wrongful termination and alleges that it sells student data through a subsidiary. Sallie Mae denies the allegations and plans to fight the lawsuit. Gray claims he was fired after expressing concerns about the data sales.
Our Reading
The announcement sounds ambitious.
Sallie Mae’s acquisition of Gray’s startup seems to have come with some strings attached. Gray alleges that the company is selling student data, a claim Sallie Mae vehemently denies. The lawsuit is just the latest in a series of controversies surrounding the student loan giant. Because what’s a little data exploitation among friends?
Author: Evan Null
