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Author Topic: Prosper order to cease and desist by SEC  (Read 165356 times)

cowdog

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Re: Prosper order to cease and desist by SEC
« Reply #75 on: November 25, 2008, 03:30:22 pm »
I sense that lenders better get in on a class action suit before FAN and 2M make off with multimillion dollar settlements for themselves and leave everyone else in the cold.

 ;D
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bamalucky

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Re: Prosper order to cease and desist by SEC
« Reply #76 on: November 25, 2008, 03:33:16 pm »
Better quote Fanafi if you are responding to him as he will switch sides by tomorrow.
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Staneslav

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Re: Prosper order to cease and desist by SEC
« Reply #77 on: November 25, 2008, 03:35:06 pm »
a
« Last Edit: December 06, 2017, 09:17:10 am by Staneslav »
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bamalucky

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Re: Prosper order to cease and desist by SEC
« Reply #78 on: November 25, 2008, 03:37:02 pm »
He won't reply..It's a quiet period.

They aren't gonna admit to guilt.

I suggest we all agree on a lawyer & go from there.
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beerbud1

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Re: Prosper order to cease and desist by SEC
« Reply #79 on: November 25, 2008, 03:42:57 pm »
Quote from: bamalucky on November 25, 2008, 03:37:02 pm
He won't reply..It's a quiet period.

They aren't gonna admit to guilt.

I suggest we all agree on a lawyer & go from there.
Wow You actually make sense from time to time.
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112233

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Re: Prosper order to cease and desist by SEC
« Reply #80 on: November 25, 2008, 03:44:33 pm »
is jail time part of their ongoing process to register with the SEC as well?
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FANAFI

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Re: Prosper order to cease and desist by SEC
« Reply #81 on: November 25, 2008, 03:54:56 pm »
Quote from: bamalucky on November 25, 2008, 03:33:16 pm
Better quote Fanafi if you are responding to him as he will switch sides by tomorrow.

Harharhar... Not this time. No new blog NewHorizon.... Sorry. :P

-Jeff
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PrinceOfEgypt

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Re: Prosper order to cease and desist by SEC
« Reply #82 on: November 25, 2008, 03:55:53 pm »
Quote from: cowdog on November 25, 2008, 03:30:22 pm
I sense that lenders better get in on a class action suit before FAN and 2M make off with multimillion dollar settlements for themselves and leave everyone else in the cold.

 ;D

They still have some of my money.. I'll go in on any legal action..

luckily I got some group rewards out of it earlier for running Computer & IT Professionals - at least I'm still in the black overall! (although not for long at this rate..)
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Tokyo Joe

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Re: Prosper order to cease and desist by SEC
« Reply #83 on: November 25, 2008, 04:35:04 pm »
Quote from: cowdog on November 25, 2008, 03:30:22 pm
I sense that lenders better get in on a class action suit before FAN and 2M make off with multimillion dollar settlements for themselves and leave everyone else in the cold.

 ;D

Good idea.
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msava

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Re: Prosper order to cease and desist by SEC
« Reply #84 on: November 25, 2008, 04:42:38 pm »
Quote from: Fred93 on November 25, 2008, 01:18:13 pm
Fred93 has updated his blog with a short note to let folks know about the SEC order.
http://fred93blog.blogspot.com/2008/11/prospercom-sec-cease-desist-order.html


Thanks Fred
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Mtnchick

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Re: Prosper order to cease and desist by SEC
« Reply #85 on: November 25, 2008, 04:43:26 pm »
Quote from: cowdog on November 25, 2008, 02:30:18 pm
Hold on, there is an easier explanation for Prosper not knowing about this.

The document on the SEC site is a pdf...  http://www.sec.gov/litigation/admin/2008/33-8984.pdf

 ;D

 :D :D :D
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BrassKnuckles

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Re: Prosper order to cease and desist by SEC
« Reply #86 on: November 25, 2008, 05:11:03 pm »
Quote from: cowdog on November 25, 2008, 12:20:41 pm
Déjà vu.

Quote
"Right now the (Red Gorilla) system is offline, all the employees were let go, and there's no money in the bank," said chief executive John Witchel. "Officetool.com has agreed to continue operating the Web site so that our customers can continue to use our software."

http://news.cnet.com/Red-Gorilla-cant-survive-capital-market-jungle/2100-1017_3-247212.html

 ;D

"The problem wasn't the business; the problem is the capital markets," Witchel said.   ::)
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BrassKnuckles

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Re: Prosper order to cease and desist by SEC
« Reply #87 on: November 25, 2008, 05:14:24 pm »
Sort of off topic...

From the SEC C&D doc where they describe Prosper's business:

"Lenders and borrowers are prohibited from transacting directly and are unable to learn each others’ true identities"

huh.... google and pacer seem to work fine for most



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futuretrump

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Re: Prosper order to cease and desist by SEC
« Reply #88 on: November 25, 2008, 06:21:11 pm »
I for one am joining the class action suit.

But what if we drive Prosper completely out of business, won't Big Gulp's stock options be worthless......I would love to see that...  Big Gulp the biggest shill on earth  :-*
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GLeaderAccountantsChoice

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Re: Prosper order to cease and desist by SEC
« Reply #89 on: November 25, 2008, 07:19:03 pm »
In regards to Prosper's civil liability, actions based on violations of the 1933 Act's registration requirements must be brought within one year of the violation.

 :P
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