Quote from @Nate Marshall:
Quote from @Mtgtme Mtgtme:
Quote from @Jay Hinrichs:
your total investment with them is 10K or what they are offering you will cause a 10k loss.?
If you cant afford a lawyer and there is small dollars involved then U just have to make the best decision you can.
Class action lawsuits are all talk.. and NO action.. very tough for private investors in deals that went bad to bring these cases
there is not enough money in them .. so attornies are not going to take it on a contingency fee.
My total principal with them is 10K. They are offering 50% as a settlement which is a paltry amount. But .... 50% is better than 0%. :)
I just want to know if there is a better way.
Likely no. Are they requiring an NDA?
Following are the extract from the settlement.
3. Release and Waiver. Investor, on Investor’s own behalf or on behalf of its successors and assigns
(collectively, “Releasors”), hereby unconditionally and irrevocably releases and forever discharges Legacy POL, POL
SPV and each of their respective past, present, and future direct and indirect representatives, officers, directors, employees,
affiliates, relatives, stockholders, controlling persons, subsidiaries, successors, and assigns (individually, a “Releasee” and
collectively, “Releasees”) from any and all claims, actions, causes of action, orders, obligations, contracts, agreements,
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both at law and in equity (collectively, “Liabilities”), which any Releasor now has, has ever had, or may hereafter have
against any Releasee for, upon or by reason of any matter, cause, or thing whatsoever arising out of or relating to the
Purchased Notes or the other Purchased Assets, any amounts owed on or rights arising under or with respect to the
Purchased Notes, the Indenture, the Underlying Loans, the Crowd Platform or any transaction or agreement contemplated
thereby or related thereto (collectively, the “Released Liabilities”). Investor hereby irrevocably covenants not to, directly
or indirectly, assert any claim or demand, or commence, institute, or voluntarily aid in any way, or cause to be commenced
or instituted, any claim, action, suit, proceeding, demand, threat or allegation of any kind against any Releasee based upon
or relating to any Released Liability.
Investor hereby acknowledges and agrees that (i) the Payment Amount represents the full and
complete payment for all of Investor’s and its transferees’ and assignees’ rights with respect to the Purchased Assets and
the Payment Amount is less than the outstanding principal balance of, accrued interest on and other amounts owed with
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have no further rights in, to or under any of the Purchased Assets and Investor shall no longer hold any interest, or have any
rights under or with respect to, the Purchased Notes or the other Purchased Assets, (iii) Investor shall no longer have access
to its account on any investor portal used for the Crowd Platform, (iv) in the event that Investor receives any payments
(x) from the Crowd Platform arising from the Purchased Notes, (y) in excess of the Payment Amount, or (z) for which
Investor is otherwise not entitled to receive under the terms of this Agreement, Investor shall repay such amounts to Legacy
POL immediately upon receipt thereof, and Legacy POL will have the right to pursue such repayment to the fullest extent
of the law, (v) Legacy POL shall provide Investor with a Form 1099 (if required by applicable law) and/or a principal loss
document in 2022, which shall be sent by email to [____] with a backup copy to [_____________], and (vi) Investor shall
promptly furnish to Legacy POL any additional information as Legacy POL may request from time to time for the purpose
of satisfying any tax or other reporting obligations of Legacy POL or POL SPV with respect to the Purchased Notes and
this Agreement.
Confidentiality. Except as may be required by a court of competent jurisdiction or other governmental
authority or as otherwise required by applicable law, rule or regulation (“Applicable Law”), Investor shall, and shall cause
its affiliates and each of their respective agents and representatives to, maintain in strict confidence the existence and terms
of the Outstanding Notes, the Purchased Assets, the Master Investor Agreement, the Indenture, the Underlying Loans and
this Agreement (collectively, the “Confidential Information”). If disclosure of any Confidential Information is required by
Applicable Law, then Investor shall, to the extent permitted by Applicable Law, notify Legacy POL as promptly as
practicable of such requirement and use commercially reasonable efforts to cooperate with Legacy POL in seeking a
protective order (or similar protection) to prevent or limit such disclosure.
