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Court Orders Dissemination of Class Notice

May 17, 2012

According to court filings made available today, Judge Kramer of the Superior Court of California, has issued an order appointing a third-party “Notice Administrator” to validate the list of class members, as defined in Hellum v. Prosper Marketplace, Inc. (and as provided by Prosper Marketplace, Inc.), and prepare to disseminate a summary notice to all class members via both email and First Class mail, no later than May 30, 2012.

Additionally, the Notice Administrator has been directed to establish and maintain a case website, where class members can obtain additional information about the case, and their rights and options.

Class members will have the option to opt-out of the Class by submitting a timely request for exclusion, pursuant to instructions set forth in the mailing.

The case website is expected to be hosted at http://www.ProsperClassAction.com (as of this moment, the site does not yet appear to be operational).

You can find a copy of this order and several other pertinent court filings here.

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