I called all 14 direct numbers from here
http://www.prospers.org/wiki/Prosper%20Directory
Not a single person picked up.Voicemail on all.
They're being vewy, vewy qwiet....
Quiet period was all bullshit.This was what was really happening.They just tried to piggyback on the LC excuse.
Of course -- didn't I say that immediately after their so-called "quiet period"?
This is almost certainly the end of Prosper. I believe that every lender is probably entitled to have their "unregistered securities" repurchased by Prosper (even the defaulted ones), which Prosper obviously doesn't have the money to do. I think a BK filing by Prosper is almost assured. An interesting question is going to be the personal liability of Prosper's Officers and Directors. While I don't know for sure, I think there is a pretty good shot at digging into Chris Larsen's personal assets. Presumably, Prosper (and its Officers and Directors) will also be suing their legal counsel, since I imagine Prosper got a pre-launch legal opinion that they did not need to regsiter. What a mess.
I also want more information about this:
In view of the foregoing, the Commission deems it appropriate to impose the sanctions agreed to in Respondent Prosper’s Offer.
I haven't checked (and don't have time to now), but I wonder if the settlement agreement is also posted on the SEC site. I want to know what the "sanctions" are.