Some new papers got filed on April 18 and 19th in preparation for the Joint Case Management conference on April 24.
The main dispute seems to be that the plaintiffs in the class action are demanding and outlining a schedule leading to a trial on all issues in November, while the defendants are insisting on a bifurcated trial, with Issue 1 (whether or not Prosper 1 notes are "securities") to be decided first and everything else to be decided later. The defendant's papers include additional arguments that the court has no obligation under California law to decide everything immediately, and that a bifurcated trial is sppropriate in the situation.