My Prosper.com experience

Heads up to the new lenders out there. Read http://www.prospers.org before you "invest" a penny.

But blogging is boring.

Today i formally requested that my name be taken off any class action lawsuit initiated by Phillip Kim, Esq.
The Rosen Law Firm, P.A.350 5th Avenue, Suite 5508
New York, New York 10118

The lawyer asked me to stop discussing the lawsuit.Even the parts that are public information found on court websites.
He seems distressed that threads on prospers.org were discussing the fees his firm could possibly collect.

I was commenting about Prosper long before he was around & have no intention of having my voice silenced.I honored his requests that private confidential lawsuit details remain private.

I think he's afraid some other ambulance chaser will piggyback & get a few class members.

To participate in the class action lawsuit against Prosper contact
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
350 5th Avenue, Suite 5508
New York, New York 10118
email: pkim@rosenlegal.com
tel: (212) 686-1060

I am one of 3 named lead plaintiffs.

Prosper operates an online lending platform connecting borrowers with lenders. The loan notes issued by Prosper pursuant to this platform are securities and Prosper, from approximately January 2006 through October 14, 2008, violated Sections 5(a) and (c) of the Securities Act, which prohibit the offer or sale of securities without an effective registration statement or a valid exemption from registration.

http://www.sec.gov/litigation/admin/2008/33-8984.pdf