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[Fred93]

the people who should really be considering filing their own lawsuit are Pensioner and Muleshoes.  Between just the two of them they have over $650,000 in defaults

That's a big number!

[Tokyo Joe]

News is spreading fast...like someone had said earlier, google "Prosper SEC". Alot of articles popping up already. A few sites where comments can be left, also...

SEC Outlines Its Reasoning For Shutting Down P2P Lender Prosper
VatorNews - SEC calls for Prosper to shut down
Prosper SEC filing, lending paused, borrowers affected.
SEC Cease And Desist Order To Prosper
SEC Shuts Down Prosper - Wealthy Reader
SEC formally orders peer lender Prosper to cease and desist ...
SEC to startups, don't you dare innovate
Prosper in violation of SEC; Loanio to halt operations
Hacker News | Prosper.com, P2P Lending Startup, Shutdown by SEC ...
Techmeme: SEC Outlines Its Reasoning For Shutting Down P2P Lender ...
Prosper order to cease and desist by SEC
Prosper Ordered to Cease and Desist by SEC

[beerbud1]

Pensioner will probably be joining this class action.

[kimmie]

Pensioner will probably be joining this class action.

Are they letting people join based on amount invested?

[beerbud1]

Pensioner will probably be joining this class action.

Are they letting people join based on amount invested?

I am not a lawyer and this is not legal advice:
No, If you lent as little as $50, you qualified as a lender and therefore you qualify as someone who can join the class action.

[Xyrus]

Pensioner will probably be joining this class action.

Are they letting people join based on amount invested?

I am not a lawyer and this is not legal advice:
No, If you lent as little as $50, you qualified as a lender and therefore you qualify as someone who can join the class action.

Technically, I "could" join but I don't want to detract from those who got bent over.

My guess is that there won't be much to go around for the winners and, as usual, the lawyers will end up being the real winners.

~X~

[Shenandoah]

Why would the "quiet period" necessitate Prosper removing all historical press releases, blog coverage and press coverage from their site?

http://www.prosper.com/about/media_room.aspx

ETA: Not even the sacred "stories" were safe?

http://www.prosper.com/prm/stories/

was the lender's help gone since the beginning of this quiet period?
http://www.prosper.com/help/

No, and it still isn't -- your link works fine for me.

The link works fine, but only the general account and borrower sections of the Help are on that page.  The information in Lenders section of the Help has been removed.

[bamalucky]

Everyone will be bent over if the loans stop being collected on.Even if you think you are positive now,imagine that scenario.

[Mtnchick]

If it becomes a true class action case, the assets of Prosper will be decided and then the plaintiff will get $X on the dollar. So it doesn't matter if you sign up now or sign up the day before the opt in expires, you're still going to get $X on the dollar. That's IF this is going to be a class action suit, of course.

[bamalucky]

If it becomes a true class action case, the assets of Prosper will be decided and then the plaintiff will get $X on the dollar. So it doesn't matter if you sign up now or sign up the day before the opt in expires, you're still going to get $X on the dollar. That's IF this is going to be a class action suit, of course.

It's filed as one.I would hope the more that signed up,the better chance it's classed as one early on.

[Tokyo Joe]

Pensioner will probably be joining this class action.

Are they letting people join based on amount invested?

I am not a lawyer and this is not legal advice:
No, If you lent as little as $50, you qualified as a lender and therefore you qualify as someone who can join the class action.

Technically, I "could" join but I don't want to detract from those who got bent over.

My guess is that there won't be much to go around for the winners and, as usual, the lawyers will end up being the real winners.

~X~

I'm also debating whether or not to bother being involved at this point.  I got 70% of my money back, and what's left is barely a couple of month's rent at this point.  I already kinda wrote it off in my head.  But I do hope to see the truly aggrieved parties recover something.  And it would give me personal satisfaction too, after all the smugness and humiliations lenders had to endure back in the Two Mils-3/30/07 era.

[bamalucky]

Perhaps this suit will bring about the final "prosper days" for us 

I say if it does even I will show up for the paying of the first round of drinks.

[cubbiesnextyr]

Perhaps this suit will bring about the final "prosper days" for us 

I say if it does even I will show up for the paying of the first round of drinks.

Quoted for posterity...

[Xenon481]

Perhaps this suit will bring about the final "prosper days" for us 

I say if it does even I will show up for the paying of the first round of drinks.

One last Meet & Greet!

[moneytree4172]

Perhaps this suit will bring about the final "prosper days" for us 

I say if it does even I will show up for the paying of the first round of drinks.

One last Meet & Greet!

Using class action proceeds to buy the drinks?