$1.48M Social Finance Wage & Hour Class Action Settlement (CA Only)

Who is a Class Member

You are included in the Social Finance Wage and Hour Class Action Settlement if “you worked at Social Finance, Inc. at any time from August 14, 2013 to October 31, 2018 as a nonexempt hourly paid employee employed by Social Finance, Inc. in its Healdsburg, California facility.”

If you don’t qualify for this settlement, check out our database of other class action settlements you may be eligible for.

Settlement Amount

  • $1,480,000.00

Estimated Award

  • Varies depending on the number of weeks worked

Each Settlement Class Member will receive a pro rata share on a workweek basis. Those Class Members who worked more workweeks will receive a larger payment.

Note: If you worked as a Mortgage Loan Officer,  you will be credited with two Qualifying Workweeks for every MLO Workweek you worked. This means that each MLO Workweek is worth twice the value of a non-MLO Workweek, because MLOs have higher potential damages than other Class Members due to their higher pay rates and unique break claims.

Proof of Purchase

  • N/A

Claim Form

  • N/A

Social Finance Employee Wage and Hour Settlement Notes

  • Baughman, et al. v. Social Finance Inc.
  • Case No. CGC-17-560700
  • Pending in the Superior Court of California for the County of San Francisco

Plaintiffs Joe Baughman, Betty Miles, Kristina Villegas, and Yulia Zamora filed this class action lawsuit against Social Finance, alleging the company failed to compensate employees who worked at its Healdsburg, CA facility for all hours worked and denied them meal and rest breaks.

Social Finance is an online personal finance company that provides student loan refinancing, mortgages, and personal loans. It is headquartered in San Francisco.

Social Finance maintains that the employees were properly compensated and were provided meal and rest breaks as required by California labor law. However, the company agreed to settle the case for $1.48 million to avoid continued litigation. Complete details about the case and settlement are provided on the Social Finance Employee Wage and Hour settlement website.

Class members who wish to exclude themselves or object to the settlement must do so by January 28, 2019.

If you wish to dispute the information about the number of workweeks showed on your notice, you must do so by January 28, 2019.

If you do nothing, you will receive your share of the settlement funds indicated on your individual Class Notice. It is important that you make sure the Settlement Administrator has your current address on file. If not, you will need to submit an updated address in order to receive your payout. If you do not update your address, you may not receive a check but will still be bound by the Settlement.

Important Dates

  • 1/28/19: Dispute Deadline
  • 1/28/19: Objection or Exclusion Deadline
  • 2/19/19: Final Hearing at 2:00 pm PT* (class members do not need to attend this hearing in order to receive a slice of the settlement pie).

*Settlement Class Members who wish to speak at the hearing should check www.CPTGroup.com/SoFiSettlement to confirm that the date or time of the Hearing has not been changed.

Contact Information

  • Mail: Baughman et al. v. Social Finance, Inc. c/o CPT Group, Inc., 50 Corporate Park, Irvine, CA 92606
  • Phone: 1-888-531-0236

Class Counsel

  • Robert Ottinger and Ashley Pellouchoud of Ottinger Firm PC
  • Louis Benowitz of The Law Office of Lewis Benowitz

Settlement Website

  •  www.CPTGroup.com/SoFiSettlement

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