Judge Appoints Ian W. Sloss of Silver Golub & Teitell LLP as Co-Lead Counsel in National Solar Lending MDL

December 11, 2024

December 11, 2024 – United States District Judge Katherine M. Menendez of the United States District Court for the District of Minnesota has appointed Silver Golub & Teitell LLP partner Ian W. Sloss to serve as interim co-lead counsel in the multidistrict litigation proceedings created by the Judicial Panel for Multidistrict Litigation entitled In re Dividend Solar Finance, LLC, and Fifth Third Bank Sales and Lending Practices Litigation (MDL No. 3128)​. Kristi Kelly of Kelly Guzzo, PLC and Amy Judkins of Newsome Melton, P.A. were appointed to serve as co-lead counsel along with Mr. Sloss.

The multidistrict litigation consolidates 24 lawsuits filed across 14 federal districts involving thousands of homeowners nationwide who allege predatory lending practices related to the issuance of loans to finance the sale and installation of residential solar panel systems.

The consolidated cases accuse Dividend and its partners of inflating loan balances with undisclosed “Platform Fees,” misrepresenting financing terms, and financing solar systems that were often unpermitted or non-functional. In appointing Mr. Sloss, the Court recognized his substantial contributions during the early investigation and his proven leadership in complex consumer litigation. As Co-Lead Counsel, Mr. Sloss will oversee pretrial proceedings, manage discovery, and advocate for homeowners who were victimized by these predatory practices.

SGT and Ian Sloss were at the forefront of addressing this misconduct, filing the first private class action lawsuit in the country to expose the unlawful practices of Dividend Solar and Fifth Third Bank. That groundbreaking case paved the way for national litigation, uncovering systemic violations of the Truth in Lending Act, state consumer protection statutes, and deceptive lending schemes that targeted vulnerable homeowners​​.

The action is In re Dividend Solar Finance, LLC, and Fifth Third Bank Sales and Lending Practices Litigation, No. 0:24-md-03128-KMM-DTS and is pending in pending in the United States District Court of the District of Minnesota before the Honorable Katherine M. Menendez.