"Gray alleges that Sallie Mae laid off his employees, including his co-founders, and then went back on promises that it wouldn't sell the users' data."
"He claims the company fired him a year after the acquisition when he tried to raise concerns about data privacy issues."
"Gray believed Sallie Mae would be prohibited from disclosing or selling non-public personal information about Scholly customers to third parties."
"Despite receiving some blowback for 'selling out,' Gray viewed the acquisition as a significant achievement for Black tech founders."
Chris Gray sold his scholarship search startup Scholly to Sallie Mae in 2023 and became a vice president there. He is now suing Sallie Mae for wrongful termination, alleging they laid off his employees and sold user data without consent. Gray claims he was fired after raising concerns about data privacy. He believed Sallie Mae, as a federally regulated institution, would not disclose or sell personal information about Scholly users. He is seeking backpay, punitive damages, and legal costs.
Read at TechCrunch
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