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Intralinks Wins Dismissal of Putative Class Action in Connection With PPP Loan Application Process
- Client News
- January 25, 2021
Paul, Weiss secured the dismissal of a putative class action against Intralinks, Inc., a cloud-based technology service provider and subsidiary of client SS&C Technologies, Inc.
Plaintiffs were two small businesses that had applied for PPP loans with Bank of America but whose loan applications were not processed until after the initial funds allocated for the PPP had been exhausted. The complaint alleged that Bank of America and Intralinks—which had been retained by Bank of America to facilitate the transmission of PPP loan materials—prioritized applications for larger PPP loans over smaller loan applications in order to receive higher origination fees.
Paul, Weiss moved to dismiss the complaint against Intralinks, arguing that the plaintiffs had failed to allege any actions by Intralinks beyond its limited role as a conduit. Judge Vince Chhabria of the Northern District of California granted the motion, agreeing that the plaintiffs had failed to allege that Intralinks “was involved in or responsible for any of the challenged conduct.” Although Judge Chhabria granted leave to amend “in an abundance of caution,” he noted that “it seems highly unlikely that the plaintiffs can plausibly and in good faith allege a claim against” Intralinks.
The Paul, Weiss team included litigation partner Bob Atkins.