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Author Topic: Prosper class action update (for lobby)  (Read 119135 times)

havastat

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Re: Prosper class action update (for lobby)
« Reply #210 on: January 21, 2013, 06:26:30 pm »
Have the plaintiffs filed a motion for summary judgment? If not, why not?

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NewHorizon

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Re: Prosper class action update (for lobby)
« Reply #211 on: January 23, 2013, 01:10:20 pm »
Quote
I don’t believe the lawsuit will have a material impact on Prosper investors whatever happens. Because even if Prosper were to get a large judgment against them and declare bankruptcy (which in my opinion is unlikely) I think there would be many willing organizations who would jump at the chance to pick up the pieces. And if Prosper can get back on a rapid growth trajectory again then they would become an even more attractive acquisition target. The class action lawsuit is just a one time expense after all.
http://www.lendacademy.com/prosper-reboots-new-ceo-new-funding/comment-page-1/#comment-10881

Nothing to look at here, folks.  Just move along...
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Xenon481

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Re: Prosper class action update (for lobby)
« Reply #212 on: March 12, 2013, 10:40:41 pm »
Quote
COMPLEX LITIGATION CALENDAR SET FOR MAR-13-2013 CONTINUED TO APR-10-2013 AT 9:00 AM IN 304 AT REQUEST OF PARTIES.
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mothandrust

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Re: Prosper class action update (for lobby)
« Reply #213 on: March 13, 2013, 07:42:09 pm »
Quote from: Xenon481 on March 12, 2013, 10:40:41 pm
Quote
COMPLEX LITIGATION CALENDAR SET FOR MAR-13-2013 CONTINUED TO APR-10-2013 AT 9:00 AM IN 304 AT REQUEST OF PARTIES.

Which parties?  Are the plaintiffs content for this to keep dragging on and on while Prosper's cash continues to burn?
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xraider

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Re: Prosper class action update (for lobby)
« Reply #214 on: March 13, 2013, 07:50:57 pm »
Not sure the lawyers checked with the class reps.  I share your concerns, moth.....
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Beerbud1

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Re: Prosper class action update (for lobby)
« Reply #215 on: April 08, 2013, 08:16:03 pm »
There was a filing with the courts today! Looks interesting! 20 pages!
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Risk_Reward

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Re: Prosper class action update (for lobby)
« Reply #216 on: April 08, 2013, 08:32:28 pm »
« Last Edit: April 08, 2013, 08:40:15 pm by Risk_Reward »
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Risk_Reward

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Re: Prosper class action update (for lobby)
« Reply #217 on: April 08, 2013, 08:51:12 pm »
« Last Edit: April 08, 2013, 09:23:28 pm by Risk_Reward »
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Beerbud1

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Re: Prosper class action update (for lobby)
« Reply #218 on: April 08, 2013, 09:58:03 pm »
I was referring to the filing by plaintiffs attorney. They mention five year rule in filing which means trial must. Commence by 11/13/13
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Risk_Reward

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Re: Prosper class action update (for lobby)
« Reply #219 on: April 09, 2013, 10:09:37 am »
Quote from: Beerbud1 on April 08, 2013, 09:58:03 pm
I was referring to the filing by plaintiffs attorney. They mention five year rule in filing which means trial must. Commence by 11/13/13

I know what you were referring to, but I found the new lawyer more interesting.  

Also as far as that five year thing, I can't imagine judges being very pleased at being ordered around by lawyers in their court.  

"The five year rule mandates trial commence by November 25, 2013"

Since when are judges mandated to do anything?
« Last Edit: April 09, 2013, 10:12:37 am by Risk_Reward »
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ira01

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Re: Prosper class action update (for lobby)
« Reply #220 on: April 09, 2013, 10:44:15 am »
Quote from: Risk_Reward on April 09, 2013, 10:09:37 am
Since when are judges mandated to do anything?

Since always.  Judges have to follow the law, regardless of what some people think.
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xraider

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Re: Prosper class action update (for lobby)
« Reply #221 on: April 09, 2013, 11:15:55 am »
The five year statute was tolled while the case was on appeal. 
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112233

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Re: Prosper class action update (for lobby)
« Reply #222 on: April 09, 2013, 08:15:10 pm »
Quote from: Risk_Reward on April 09, 2013, 10:09:37 am
Quote from: Beerbud1 on April 08, 2013, 09:58:03 pm
I was referring to the filing by plaintiffs attorney. They mention five year rule in filing which means trial must. Commence by 11/13/13

I know what you were referring to, but I found the new lawyer more interesting.  

Also as far as that five year thing, I can't imagine judges being very pleased at being ordered around by lawyers in their court.  

"The five year rule mandates trial commence by November 25, 2013"

Since when are judges mandated to do anything?
sentencing guidelines etc?
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ira01

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Re: Prosper class action update (for lobby)
« Reply #223 on: April 10, 2013, 12:43:06 am »
Quote from: 112233 on April 09, 2013, 08:15:10 pm
Quote from: Risk_Reward on April 09, 2013, 10:09:37 am
Quote from: Beerbud1 on April 08, 2013, 09:58:03 pm
I was referring to the filing by plaintiffs attorney. They mention five year rule in filing which means trial must. Commence by 11/13/13

I know what you were referring to, but I found the new lawyer more interesting.  

Also as far as that five year thing, I can't imagine judges being very pleased at being ordered around by lawyers in their court.  

"The five year rule mandates trial commence by November 25, 2013"

Since when are judges mandated to do anything?
sentencing guidelines etc?

Actually not the best example -- the Supreme Court held several years back that the federal Sentencing Guidelines could not constitutionally be mandatory, but were instead only advisory (despite being written with mandatory language).  http://en.wikipedia.org/wiki/United_States_Federal_Sentencing_Guidelines
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havastat

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Re: Prosper class action update (for lobby)
« Reply #224 on: April 22, 2013, 08:42:14 pm »
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.

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