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[Beerbud1]

Looks like Cubbies is correct! Not that I doubted him  , Was curious, so I googled it!

http://www.irs.gov/pub/irs-utl/lawsuitesawardssettlements.pdf

[cubbiesnextyr]

Looks like Cubbies is correct! Not that I doubted him  , Was curious, so I googled it!

http://www.irs.gov/pub/irs-utl/lawsuitesawardssettlements.pdf

Whew, I guessed right! 

[Fred93]

What's the earliest we can expect to see money?

I'm guessing 18 months.   

[Beerbud1]

What's the earliest we can expect to see money?

I'm guessing 18 months.   

We're guessing? I'll say next March 2014!

[Capital_Finance_Group]

What's the earliest we can expect to see money?

That's a question I wished I'd asked myself back when I first opened up my Prosper Account.

[Capital_Finance_Group]

http://webaccess.sftc.org/Scripts/Magic94/mgrqispi94.dll?APPNAME=WEB&PRGNAME=ValidateCaseNumber&ARGUMENTS=-ACGC08482329

Looks like the Court has now been officially notified of the Settlement. Lots of new filings on 09/09/2013 and one on 09/10/2013. Any comments from the Legals who inhabit these boards?

[rogerwaite]

http://webaccess.sftc.org/Scripts/Magic94/mgrqispi94.dll?APPNAME=WEB&PRGNAME=ValidateCaseNumber&ARGUMENTS=-ACGC08482329

Looks like the Court has now been officially notified of the Settlement. Lots of new filings on 09/09/2013 and one on 09/10/2013. Any comments from the Legals who inhabit these boards?

What I read that comes out the $10M:
1/3 goes to Class Counsel
?? goes to Named Plaintifs (hope you get a nice chunk)
?? goes to Litigation expenses
$250K goes to administering the Escrot account
The rest is divied up to eligible Class members prorated to each of our respective net losses and prorated to the 4 payments.

Anyone see anything different? I'm expecting a check for about $2.95 for my $400 loss.

[xraider]

Based on what I'm seeing, I'm going to object.

The only people who will recover are those who suffered a net loss, after principal and interest.

[Xenon481]

Based on what I'm seeing, I'm going to object.

The only people who will recover are those who suffered a net loss, after principal and interest.

Exactly, the interest shouldn't come into play for this.

[nonattender]

Shocked that the only people winning are the lawyers.  Let me know when it's time for me to say "I told you so, eight years ago".

[NewHorizon]

Based on what I'm seeing, I'm going to object.

The only people who will recover are those who suffered a net loss, after principal and interest.

I would agree that by using unregistered securities, all lenders were affected - not just those with negative ROIs.

Of course if ALL P1.0 lenders get a piece of the $10M, poor roger is going to get far less than $2.95.  Thinking about it that way, or if you feel Prosper should buy back all P1.0 loans, then that $10M sure looks awfully tiny.

[Beerbud1]

Based on what I'm seeing, I'm going to object.

The only people who will recover are those who suffered a net loss, after principal and interest.

Will that cause the courts to re-think everything? Since your a lawyer in California will that help you  get a new settlement?

[xraider]

Enough objections would lead to the court to reject the settlement.......

[Beerbud1]

How many do you need?

[msava]

How many do you need?

Named plaintiffs will get more than the rest of us, because...