Court filing
MOTION Motion for Accounting filed by KOLAWOLE AHMADOU, KIANA DERVIN, KRISTINA… — Marshall Prestamos (Dkt. 36)
Filed April 22, 2022 in Marshall Prestamos; one of 344 filings from this case.
Record facts
| Court | U.S. District Court for the Eastern District of Pennsylvania |
|---|---|
| Filed | 2022-04-22 |
U.S. District Court for the Eastern District of Pennsylvania · No. 5:21-cv-04337-JMG · Doc. 36 · 2022-04-22 · Docket on CourtListener
Full text
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA ALICIA MARSHALL, DANIEL PRONSKY, PARIS TOWNSEND, NANCILEE HOLLAND, LEONA OWSLEY, KOLAWOLE AHMADOU, KIANA DERVIN, KRISTINA HENDERSON, DUSTIN INNIS, KELLY STALNAKER and JAMIE JONES, individually and on behalf of all others similarly situated, Plaintiffs, v. PRESTAMOS CDFI, LLC, Defendant. Civil Action No. 5:21-cv-04337-JMG PLAINTIFFS’ MOTION FOR ACCOUNTING Plaintiffs hereby move to compel defendant Prestamos CDFI, LLC (“Defendant” or “Prestamos”) to produce an accounting, and in support thereof state as follows: 1. Plaintiffs’ Amended Complaint details facts reflecting that Defendant secured cash advances from the federal government in large amounts based on misrepresentations regarding the loans that secured those advances. See ECF 18, ¶¶ 71, 88-89, 108, 117, 126, 131, 140, 149, 158, 167, 176, 179, 188, 197, 203 (a) – (g), 204 (a) – (ww).Those allegations are based largely on facts in the public record. 2. Plaintiffs and members of the proposed classes are the intended recipients of these funds, and thus have a vested interest in those proceeds and are faced with substantial uncertainty regarding their status or potential disposition of the funds among other things. Case 5:21-cv-04337-JMG Document 36 Filed 04/22/22 Page 1 of 3 2 3. Defendant is required to maintain records and account for these cash advances by virtue of its status as a lender and its lending commitments pursuant to the Small Business Administration’s Paycheck Protection Program (“PPP”). 4. For all of these reasons, which are further detailed in the accompanying Memorandum of Law which is being filed and is incorporated herewith, the Court should compel Defendant to produce an accounting that accounts for and answers the following questions: a. How many of the 494,415 SBA-approved PPP borrowers that Defendant committed to fund did Defendant fail to fund? b. How much in federally-originated Paycheck Protection Program Liquidity Facility (“PPPLF”) and other cash advances did Defendant receive that it failed to fund to SBA-approved borrowers? c. Where are those unfunded proceeds presently? d. If Defendant paid any such PPPLF and other cash advances to others, when and to whom and how much and why? e. How much in PPP loan processing fees did Defendant obtain on the unfunded loans of Plaintiffs and the members of the proposed classes? Dated: April 22, 2022 Respectfully submitted, BAILEY & GLASSER LLP By: /s/ Lawrence J. Lederer Lawrence J. Lederer (Pa. ID 50445) Michael L. Murphy (pro hac vice) Bart D. Cohen (Pa. ID 57606) 1055 Thomas Jefferson Street NW, Suite 540 Washington, DC 20007 T.: 202.463-2101 F.: 202.463-2103 llederer@baileyglasser.com mmurphy@baileyglasser.com bcohen@baileyglasser.com and Case 5:21-cv-04337-JMG Document 36 Filed 04/22/22 Page 2 of 3 3 NOLAN HELLER KAUFFMAN LLP Justin A. Heller (admitted pro hac vice) Matthew M. Zapala (admitted pro hac vice) 80 State Street, 11th Floor Albany, NY 12207 T.: 518.449.3300 F.: 518.432.3123 jheller@nhkllp.com mzapala@nhkllp.com Attorneys for Plaintiffs and the Proposed Classes Case 5:21-cv-04337-JMG Document 36 Filed 04/22/22 Page 3 of 3
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