A battle between the Student Loan Marketing Association and dissident shareholders has landed in court, with each side accusing the other of impropriety in last week's fractious proxy contest.

Litigation is the latest offshoot of management's proposal to privatize the government-sponsored enterprise. Dissidents contend the move is unwarranted, and last week claimed victory in a proxy battle to elect directors supporting that view.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.