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Complex Litigation Hearing Set for September 21, 2009

July 21, 2009

UPDATE:  As of July 30, 2009, this hearing has now been moved up on the calendar and re-scheduled for September 15, 2009.

In the ongoing legal proceedings against Prosper Marketplace (Prosper.com), The Superior Court of California, County of San Francisco has just issued notice that, due to anticipated work furlough mandated by the court administration, the next hearing in the case has been re-scheduled for September 21, 2009.

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2 Comments leave one →
  1. August 2, 2009 3:15 am

    An astute Prosper lender pointed out Prosper’s “summer vacation” has been shortened by a week. Late in July the court moved the next conference on COMPLEX LITIGATION MATTERS from September 21 to September 15.

    Meanwhile, I received clarification on the plaintiff’s (lender’s) activity to date from Green-Welling, the California firm working in consort with Rosen of New York. I have updated the recap of events July 9 in the Prosper ‘Quiet’ Diary for accuracy and completeness.

    The case could have moved forward toward Class Certification following the judge’s decision to sustain Demurrer of Prosper’s Outside Directors. “Technically, there was a valid complaint on file after the demurrer was sustained,” a spokesperson from Green-Welling explained. “However, only the company – and not the individual officers – remained as a Defendant. Because we believe the individual officers are subject to liability, we needed to file a Second Amended Complaint.”

  2. August 3, 2009 9:06 am

    Thanks. I have updated the post.

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