Premier Financial Alliance fraud cases consolidated
Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action.
The two Californian cases Premier Financial Alliance is currently defending are:
- a 2018 suit filed by Rui Chen and Wenjian Gonzales, alleging pyramid scheme fraud; and
- a 2019 suit filed by Youxiang Eileen Wang and Biyun Zong, alleging Premier Financial Alliance targeted Asian immigrants for fraud.
Both cases are proposed class-actions and were consolidated by court order on April 16th.
The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel.
The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th.
Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing.
Update 11th March 2021 – Been following this case as it chugs along. The latest update is a Class Certification Motion Hearing has been scheduled for August 8th, 2021.
That hearing will determine if the consolidated case against PFA will proceed as a class-action.
Update 7th June 2021 – Another motion to certify the class was filed on May 14th.
A hearing to certify the class has been scheduled for August 24th. This replaces the previously scheduled August 8th hearing.
I’ve scheduled our next case docket check for August 25th.
Update 17th November 2021 – On November 3rd a partial class certification covering Californian PFA affiliates was granted.