Prosper.Com Class Action Lawsuit

A class action is the best means of obtaining redress for the Defendant’s illegal telemarketing, and is consistent both with the private right of action afforded by the TCPA and the fairness and efficiency goals of Rule 23 of the Federal Rules of Civil Procedure.

The Class Action alleges that Prosper was selling securities without qualifying or registering them and was acting as an unli-censed broker-dealer, and alleges that Prosper’s officers and directors were liable as control-persons for those activities. The Defendants deny the allegations asserted in the Class Action and deny that they engaged.

Currently Prosper has over 650,000 members, and more than $130 million in loans have funded through the Prosper marketplace." May 28, 2008 Kentucky Department of Financial Institutions (DFI) was the first state regulator to take formal action against the company.

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There is an important development to report in the ongoing class action lawsuit against Prosper Marketplace, Inc. (Prosper.com). If you purchased loan notes on Prosper.com during the period from January 1, 2006 through October 14, 2008, you may be a class member in a class action.

Consider joining a student loan lawsuit if you feel your servicer has misled you about your pslf qualifications. cnn Money reports that the lawyer handling the Navient PSLF lawsuits is trying to obtain class-action status. A student loan lawyer can help you decide if it’s worth it to sue a servicer or join an existing lawsuit.

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The SEC cease and desist order against Prosper offered the legal arguments on a plate, now the first class action lawsuit filed against Prosper Marketplace Inc. uses the SEC filing as exhibit A to state it’s case. Regarding numbers and affected lenders the lawsuit by The rosen law firm, New York.

Great Lakes faces a class action lawsuit for allegedly misinforming borrowers that. and Prosperity through Education Reform (PROSPER) Act. The bill would have eliminated all but one federal student.

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Prosper, Inc. and monterey financial services, Inc. have been accused in a proposed class action of charging excessive interest on a personal loan in violation of state law. The plaintiff says he took out a loan for $4,000 with Prosper, Inc. that was later transferred to Monterey and required him to pay an annual interest rate of 17.99 percent.