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[rogerwaite]

I suppose 'mailed by the end of the month' means they may do it today, which means they arrive over the next three days depending where you live.

Is it up to the class representatives to declare them in default and the whole thing be paid out?

[Fred93]

I suppose 'mailed by the end of the month' means they may do it today, which means they arrive over the next three days depending where you live.

I figured it meant "mañana". 

How much you wanna bet they don't postmark the checks by today?

[alexpkeaton]

Can we get interest on the delayed payments?

It wouldn't be much money, but it could be a fun logistical headache for Prosper's incompetent math wizards, and a nice "fuck you."

[mothandrust]

Not like we got interest on our loan losses while Prosper delayed and demurred in court since 2008.

$10M in cash in 2008 is worth much less than $2M in 2014 and $8M (maybe) paid in 2015-2018.

[mothandrust]

What's the date of the "Preliminary Approval Order"? 

If they are more than 10 days late we're supposed to get the $8M plus 7% per annum interest.

So what now, we wait for some other law firm to offer to represent us and they get 1/3 of the take for getting us 20% of what we're asking for 8 years later?

Say what you want about Ira but he picked the right line of work.

[112233]

I suppose 'mailed by the end of the month' means they may do it today, which means they arrive over the next three days depending where you live.

Is it up to the class representatives to declare them in default and the whole thing be paid out?

end of the month doesn't specify which month, just the end of some month

[Fred93]

What's the date of the "Preliminary Approval Order"? 

If they are more than 10 days late we're supposed to get the $8M plus 7% per annum interest.

The judge signed the order on April 16, 2014.  I'm not sure about the meaning of "Preliminary approval order".  I'm not sure which date governs.  I'm thinking that the date of the judge's signature is perhaps the right one.  I was trying to look this up on the san fran superior court web site to verify details, but they've been doing web site maintenance in the evenings for several days now, and that's always when I try to access.

[Capital_Finance_Group]

Well - I'm not going to get myself all worked up this year over $10.
But next year when its $15 I might try to get myself a little testy.

[Fred93]

I suppose 'mailed by the end of the month' means they may do it today, which means they arrive over the next three days depending where you live.

Well, its now 9/4, so your theory is blown.  No one anywhere has reported receiving a check.

[rogerwaite]

I suppose 'mailed by the end of the month' means they may do it today, which means they arrive over the next three days depending where you live.

Well, its now 9/4, so your theory is blown.  No one anywhere has reported receiving a check.

04:19:25 am
Were you up early fretting over this or did it kept you up all night? 
We appreciate you're looking out for us. What do you recommend we do? Oh yeah, you already said. Guess I better get to calling.

[bluestar148]

09/08/2015 No check.

[alexpkeaton]

Shall we start shaming them on social media?

[ira01]

Shall we start shaming them on social media?

As if they had any shame. 

[Mtnchick]

Nothing in my mailbox. Maybe the person tasked with following .org had to be let go?  I think we are the only way they ever got anything done. 

[Fred93]

Well, I crafted a letter tonite to Judge Karnow.  I'll decide whether to send it tomorrow morning.  I can't easily paste the letter here because the formatting from Word doesn't copy to here easily.  Here's the facts from the middle of the letter..

Case No. CGC-08-482329  (Prosper Marketplace Class Action)

Your orders specified that class members were to be paid by a certain date, and this has not been done.

The facts:

1.   The preliminary approval order was signed by you on January 3, 2014, and filed on the same day.

2.   The amended stipulation and agreement of compromise, settlement, and release, filed December 5, 2013 states:  (page 3 line 16) that the 2nd installment of $2,000,000 shall be made “on the one year anniversary of entry by the court of the Preliminary Approval Order.”

Therefore, the payment was due to be paid by Prosper Marketplace by January 3, 2015.

3.   And the same document states (page 10 line 22) “Eligible Recipients shall be distributed their proportionate payment of the Second Annual Distribution from the Settlement Escrow by no later than 20 days following the date that the Second Settlement Payment is made.”

20 days past January 3, 2015 would seem to be January 23, 2015.

It is now September of 2015, and class members have yet to receive their checks from the second distribution.
 
It appears to me that payments are about eight months late at this point.

If my analysis is correct, your orders are not being carried out.