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Plaintiffs file amended complaint

March 3, 2009

Two notable developments…

On February 26, 2009, plaintiffs filed a “first amended complaint” with the Superior Court of California, County of San Francisco.

I am still reading through the document. Please feel free to add your comments regarding any notable changes you can find.

The next day, a stipulation and order regarding case management conference was filed.  This filing appears to be mostly “house-keeping” items related to scheduling and sequence of events.

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3 Comments leave one →
  1. Beerbud1 permalink
    March 6, 2009 5:26 am

    In one of the filings, Plaintiffs are seeking treble damages for plaintiffs and class members. The damages are not to exceed $10,000 per individual.

  2. March 24, 2009 6:43 am

    I noticed there has been new activity on these and other things. Most recently, MAR-23-2009: AMENDED NOTICE OF MOTION FOR AN ORDER GRANTING CLASS CERTIFICATION, APPOINTING CLASS REPRESENTATIVES AND CLASS COUNSEL, (ETC) FILED BY THE PLAINTIFFS which is the motion set aside back on January 7, 2009. As usual, no shortage of my personal opinions while attempting to peer into the judges chambers, as it were. SCP Prosper Forum Litigants Duck April Showers, Look Beyond May Flowers

  3. March 28, 2009 7:54 am

    I read the FIRST AMENDED COMPLAINT this morning. Although not a legal scholar, I found the document pretty straightforward, not as difficult as I had anticipated. I did not do a comparison of the original versus the amended. However, I gleaned what I believe are the points of interest to lenders at this early stage of the game and posted them here on SCP Forum for your consideration.

    In reading, I am unclear as to the limit on “Treble Damages” sought. Is it 10k per lender or per loan? On page 4 is seems like “per lender” but on pg 24 it reads,”[Prosper is] liable to each Plaintiff and Class member for treble damages not to exceed $10,000 per each violation.” The difference in proper interpretation is significant.

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