Settlement Reached in Proudlove v. Seed Capital
In September 2022, a settlement agreement was successfully reached in Proudlove v. Seed Capital, just three days before the case was set to go to trial. The settlement won $1,575,000 for the 505 class members. The settlement administrator mailed checks on March 21, 2023—class members should watch their mailboxes for their check.
Seed Capital charged consumers an average of $3,000 for a service called “credit card stacking,” which is submitting six to eight credit card applications with introductory rates of 0%. These credit card applications are free for consumers to complete on their own, but Seed took advantage and charged thousands for this “service.” Consumers were also encouraged to sign up for costly seminars promising success in real estate, online investing, and online sales. The fees for these useless trainings often maxed out the credit cards that Seed had helped the consumers obtain. Many consumers ended up with more than $40,000 in credit card debt, while owners of Seed made millions.
Blythe Chandler led the team at TMLG and was assisted by attorneys Beth Terrell, Amanda Steiner, Erika Nusser, Jen Murray, Toby Marshall, Ben Drachler, Eden Nordby, Elizabeth Adams, Keith Gibson, as well as numerous members of staff.