Joel Reese and Pete Marketos led the team that settled more than $700,000,000 in claims against publicly traded FinTech company, Elevate Credit

February 16, 2022

Pete Marketos and Joel Reese represented Elevate Credit, Inc., a publicly traded company on the New York Stock Exchange, against claims in the United States Bankruptcy Court for the Northern District of Texas that Elevate was the recipient of more than $250,000,000 in assets that were allegedly fraudulently transferred from Think Finance, Inc. in connection with a corporate spin-off. Elevate also faced a related consumer class action in the United States District Court for the Eastern District of Texas, alleging that Elevate participated in an alleged RICO conspiracy involving Think Finance. The consumer plaintiffs sought more than $300,000,000 in damages. After 18 months of litigation and two mediations, Reese Marketos was able to settle all lawsuits against Elevate and certain related shareholders for $44.5, in a settlement that is set to be finally approved by the United States District Court for the Eastern District of Texas on July 28, 2022.