Prospers.ORG Prosper Forum

Advanced search  

News:

Welcome to Prospers.ORG!   Login here

Pages: 1 ... 20 21 [22] 23 24 ... 50   Go Down

Author Topic: Prosper Class Action Suit Settled for $10 Million Over 3 Years  (Read 2516605 times)

112233

  • Hero Member
  • *****
  • Karma: +4365/-5167
  • Posts: 28213
    • View Profile
    • Prosper Report
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #315 on: July 27, 2014, 03:10:37 pm »

i'm not sure if any money has even been paid yet

I don't think so.  I sent an email to the address on the web site, and got a reply that said they were planning to send checks by the end of summer.  They didn't say what year  :D

Quote
and have always assumed after the lawyer fees are finished being awarded there will be $0.00 left for us :-/

You are wise.  I just got a check for an unrelated investment loss that involved IMHO fraud and negligence and (I'm hunting for kind words).  Five years after the event, a check from the class action suit has arrived, and it is for 0.0028 x my loss.   I think I'll go cash it this afternoon. 
did they give a stardate?
Logged
If you're not outraged, you're not paying attention.

you're

rogerwaite

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 2326
  • AKA mrbalingwire
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #316 on: July 28, 2014, 10:54:03 am »

I'm pretty sure that's exactly what they said (and which was posted here) a month or so ago.  And since it is not even remotely the end of summer yet, I'm not sure why you are getting your panties in a wad.  If no checks are received in another month and a half or so, then that will be plenty of time to raise questions.  Until then, not so much. 

As for your other class action settlement, it is certainly true that some class action settlements provide little of value to the class (although judges have been starting to crack down on that the last couple of years). But this isn't like that.  IMHO, the class attorneys and the class representatives did an excellent job achieving a result considerably better than most class settlements.

ETC:  OK, I think I added back the gist of my original post accidentally deleted by Fred. 

IRA, hope you're still chilling on the beach with some sort of umbrella drink in your hand as you wrote this. If not, welcome back to the rut.  :ninja:

I don't think Fred's statement is jumping the gun. "By the end of summer" doesn't mean at the end of summer. I don't think the every single check will be cut and sent on August 31, or Sept. 21, whichever you want to call the end of summer. So we'd like to hear if the checks have begun to trickle out. I think there's a time frame in settlement, and I don't recall it being defined by seasons.
Logged

ira01

  • Hero Member
  • *****
  • Karma: +144/-10405
  • Posts: 48222
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #317 on: July 28, 2014, 01:22:59 pm »

I'm pretty sure that's exactly what they said (and which was posted here) a month or so ago.  And since it is not even remotely the end of summer yet, I'm not sure why you are getting your panties in a wad.  If no checks are received in another month and a half or so, then that will be plenty of time to raise questions.  Until then, not so much. 

As for your other class action settlement, it is certainly true that some class action settlements provide little of value to the class (although judges have been starting to crack down on that the last couple of years). But this isn't like that.  IMHO, the class attorneys and the class representatives did an excellent job achieving a result considerably better than most class settlements.

ETC:  OK, I think I added back the gist of my original post accidentally deleted by Fred. 

IRA, hope you're still chilling on the beach with some sort of umbrella drink in your hand as you wrote this. If not, welcome back to the rut.  :ninja:

Mahalo!  Still here in Hawaii.  We leave tomorrow morning. 

Quote
I don't think Fred's statement is jumping the gun. "By the end of summer" doesn't mean at the end of summer. I don't think the every single check will be cut and sent on August 31, or Sept. 21, whichever you want to call the end of summer. So we'd like to hear if the checks have begun to trickle out. I think there's a time frame in settlement, and I don't recall it being defined by seasons.

I think they need to process the data, and figure out how much everyone will get for their first check.  I think that will likely all be done at once.  The actual mailing may span a week or two, but I doubt it will be much more than that.  Since there is still a good 6 weeks until "the end of summer," I'm not concerned that no one has received a check yet. 
Logged
If you're not outraged, you're not paying attention.

bamalucky

  • Hero Member
  • *****
  • Karma: +419/-419
  • Posts: 42760
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #318 on: July 28, 2014, 02:32:59 pm »

I'll bet the lawyers have already cut themselves a check
Logged
There are no stupid questions, just stupid people.

Beerbud1

  • Guest
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #319 on: July 28, 2014, 03:02:34 pm »

I'll bet the lawyers have already cut themselves a check

Ever hear of a Third party Administrator appointed by the courts?
Logged

bamalucky

  • Hero Member
  • *****
  • Karma: +419/-419
  • Posts: 42760
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #320 on: July 28, 2014, 05:38:01 pm »

I'll bet the lawyers have already cut themselves a check

Ever hear of a Third party Administrator appointed by the courts?
So you're saying the class action lawyers haven't gotten paid yet either?  Please clarify what you're saying. 
Logged
There are no stupid questions, just stupid people.

Beerbud1

  • Guest
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #321 on: July 28, 2014, 07:40:50 pm »

I'll bet the lawyers have already cut themselves a check

Ever hear of a Third party Administrator appointed by the courts?
So you're saying the class action lawyers haven't gotten paid yet either?  Please clarify what you're saying.  

That's correct, no one has gotten paid yet!
« Last Edit: July 28, 2014, 08:21:42 pm by Beerbud1 »
Logged

msava

  • Hero Member
  • *****
  • Karma: +37/-9
  • Posts: 28779
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #322 on: July 29, 2014, 08:02:00 am »

I'm pretty sure that's exactly what they said (and which was posted here) a month or so ago.  And since it is not even remotely the end of summer yet, I'm not sure why you are getting your panties in a wad.  If no checks are received in another month and a half or so, then that will be plenty of time to raise questions.  Until then, not so much. 

As for your other class action settlement, it is certainly true that some class action settlements provide little of value to the class (although judges have been starting to crack down on that the last couple of years). But this isn't like that.  IMHO, the class attorneys and the class representatives did an excellent job achieving a result considerably better than most class settlements.

ETC:  OK, I think I added back the gist of my original post accidentally deleted by Fred. 

IRA, hope you're still chilling on the beach with some sort of umbrella drink in your hand as you wrote this. If not, welcome back to the rut.  :ninja:

Mahalo!  Still here in Hawaii.  We leave tomorrow morning. 

Quote
I don't think Fred's statement is jumping the gun. "By the end of summer" doesn't mean at the end of summer. I don't think the every single check will be cut and sent on August 31, or Sept. 21, whichever you want to call the end of summer. So we'd like to hear if the checks have begun to trickle out. I think there's a time frame in settlement, and I don't recall it being defined by seasons.

I think they need to process the data, and figure out how much everyone will get for their first check.  I think that will likely all be done at once.  The actual mailing may span a week or two, but I doubt it will be much more than that.  Since there is still a good 6 weeks until "the end of summer," I'm not concerned that no one has received a check yet. 
Ira, you said "their first checks." How many checks do you anticipate we will be receiving, and over what time span?
Logged
" Ten percent of what you eat feeds you, 90 percent feeds your doctor."

rogerwaite

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 2326
  • AKA mrbalingwire
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #323 on: July 29, 2014, 09:02:44 am »

We're supposed to get the first one and then one each year for three more years.
Logged

Beerbud1

  • Guest
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #324 on: July 29, 2014, 12:08:41 pm »

Looks like there is some movement today. I got a request from the lawyers a few minutes ago to fill out a W-9 form.
Logged

bamalucky

  • Hero Member
  • *****
  • Karma: +419/-419
  • Posts: 42760
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #325 on: July 29, 2014, 01:44:56 pm »

Looks like there is some movement today. I got a request from the lawyers a few minutes ago to fill out a W-9 form.

The class action lawyers?
Logged
There are no stupid questions, just stupid people.

Beerbud1

  • Guest
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #326 on: July 29, 2014, 02:05:20 pm »

Looks like there is some movement today. I got a request from the lawyers a few minutes ago to fill out a W-9 form.

The class action lawyers?

Yes
Logged

bamalucky

  • Hero Member
  • *****
  • Karma: +419/-419
  • Posts: 42760
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #327 on: July 29, 2014, 02:12:21 pm »

Looks like there is some movement today. I got a request from the lawyers a few minutes ago to fill out a W-9 form.

The class action lawyers?

Yes

Why would they be asking if the distribution was being handled by a 3rd party?
Logged
There are no stupid questions, just stupid people.

Beerbud1

  • Guest
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #328 on: July 29, 2014, 02:55:24 pm »

Looks like there is some movement today. I got a request from the lawyers a few minutes ago to fill out a W-9 form.

The class action lawyers?

Yes

Why would they be asking if the distribution was being handled by a 3rd party?
What? I never said that!!! I said I was asked to complete a W-9 IRS form!
Logged

bamalucky

  • Hero Member
  • *****
  • Karma: +419/-419
  • Posts: 42760
    • View Profile
Re: Prosper Class Action Suit Settled for $10 Million Over 3 Years
« Reply #329 on: July 29, 2014, 03:02:04 pm »

So you didn't say this yesterday?

Quote
Ever hear of a Third party Administrator appointed by the courts?
Logged
There are no stupid questions, just stupid people.
Pages: 1 ... 20 21 [22] 23 24 ... 50   Go Up