Alicia Marshall, et al. v. Prestamos CDFI, LLC, et al.

Analysis Group was retained on behalf of Prestamos CDFI, the defendant in a proposed class action brought by borrowers who alleged that they were approved for loans from Prestamos under the pandemic-era Paycheck Protection Program (PPP) but never received the proceeds, despite Prestamos reporting the loans as funded. The plaintiffs alleged fraud, breach of contract, and unfair competition and sought to sue as a class.

An Analysis Group team led by Managing Principal Gaurav Jetley, Principal Xinyu Ji, and Vice Presidents Ilona Mostipan and Brendan Rogers supported a banking expert, who filed expert reports and testified at deposition. The expert explained PPP procedures and why each borrower’s circumstances required individualized analysis, thus making a class action an inappropriate vehicle for bringing their claims.

A judge in the US District Court for the Eastern District of Pennsylvania denied certification of the class, finding that the plaintiffs’ loan outcomes arose from borrower-specific circumstances beyond Prestamos’s contractual or regulatory duties.