Alex Kalpaxis v. MedRhythms, Inc., Brian Harris, Owen McCarthy

CourtDistrict Court, E.D. New York
DecidedMay 13, 2026
Docket1:24-cv-02943
StatusUnknown

This text of Alex Kalpaxis v. MedRhythms, Inc., Brian Harris, Owen McCarthy (Alex Kalpaxis v. MedRhythms, Inc., Brian Harris, Owen McCarthy) is published on Counsel Stack Legal Research, covering District Court, E.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Alex Kalpaxis v. MedRhythms, Inc., Brian Harris, Owen McCarthy, (E.D.N.Y. 2026).

Opinion

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK

ALEX KALPAXIS,

Plaintiff, MEMORANDUM & ORDER – against – 24-cv-02943 (NCM) (CHK)

MEDRHYTHMS, INC., BRIAN HARRIS, OWEN MCCARTHY,

Defendants.

NATASHA C. MERLE, United States District Judge:

Before the Court is defendants MedRhythms, Inc. (“Company”), Brian Harris, and Owen McCarthy’s motion to dismiss plaintiff’s second amended complaint (“SAC”) pursuant to Federal Rule of Civil Procedure 12(b)(6).1 Plaintiff Alex Kalpaxis brings this action pursuant to the Court’s diversity jurisdiction, asserting state law claims for promissory estoppel against all defendants, and claims for breach of contract, quantum meruit, and unjust enrichment against the Company. SAC ¶¶ 127–63, ECF No. 29. For the reasons stated below, defendants’ motion is GRANTED in part and DENIED in part. BACKGROUND In 2016, Kalpaxis and defendants Harris and McCarthy founded MedRhythms, a startup company specializing in inventing and marketing medical devices to treat patients

1 The Court hereinafter refers to Defendants’ Memorandum of Law in Support of Their Motion to Dismiss Plaintiff’s Second Amended Complaint, ECF No. 36-1, as the “Motion”; Plaintiff’s Memorandum of Law in Opposition to Motion to Dismiss, ECF No. 36-2, as the “Opposition”; and Defendants’ Reply Memorandum of Law in Support of Their Motion to Dismiss Plaintiff’s Second Amended Complaint, ECF No. 36-3, as the “Reply.” with neurological defects. SAC ¶ 12. Kalpaxis was the Company’s Chief Technology Officer (“CTO”), Harris was and remains the Company’s Chief Executive Officer (“CEO”), and McCarthy was and remains the Company’s President and Founder. SAC ¶¶ 14–16. As CTO, Kalpaxis created, developed, and invented medical devices that provided the foundation for the Company’s business model. SAC ¶ 17. Defendants promised Kalpaxis

that he would be compensated for all of his work once the Company raised sufficient capital to fund its operations. SAC ¶ 24. Kalpaxis worked for the Company full time from 2016 through January 2021 and part time from late 2021 through April 2024. SAC ¶¶ 29, 104. During this time, Kalpaxis paid for his own living expenses and for business expenses that he incurred on behalf of the Company. SAC ¶ 54. Despite repeated assurances that he would receive an annual salary, deferred compensation in the form of stock options, and reimbursement for business expenses, Kalpaxis was never paid a salary, SAC ¶¶ 30, 44, 46, 53, 63, 66, 70 and his business expenses exceeded the amount he was reimbursed, SAC ¶¶ 76–81. Kalpaxis was, however, granted a stock option (the “Option”) to purchase 56,500 shares of common stock at a price of $0.40/share. SAC ¶ 57; Incentive Stock Option

Agreement (“ISO”) 2,2 ECF No. 29-1.3 The ISO provided that the Option would expire either (i) 30 days after Kalpaxis’ employment with the Company terminated; or (ii) one

2 The Court may take judicial notice of documents attached to a complaint. See Commonwealth Land Title Ins. v. Am. Signature Servs., No. 13-cv-03266, 2014 WL 672926, at *7 n.7 (E.D.N.Y. Feb. 20, 2014) (citing Glob. Network Commc’ns, Inc. v. City of New York, 458 F. 3d 150, 157 (2d Cir. 2006) (“[C]ourts may take judicial notice of documents attached to, integral to, or referred to in the complaint.”).

3 Throughout this Opinion, page numbers for docket filings refer to the page numbers assigned in ECF filing headers. year after he suffered a “permanent and total disability” or death. See ISO 3. In order to exercise the Option, Kalpaxis was required to deliver written notice to the Company together with payment for “the number of shares with respect to which the Option [wa]s to be exercised.” ISO 2. Although Kalpaxis attempted to exercise the Option “throughout his tenure as CTO,” SAC 4 106, the Company “refused . . . to allow [him] to exercise his Option,” SAC 4 108. In or around January 2021, Kalpaxis suffered a stroke which required two and a half years of recovery. SAC {| 92. Nonetheless, in “late 2021” he returned to work at the Company on a part-time basis. SAC {] 29, 104. A few years later, in the beginning of 2024, Kalpaxis demanded to exercise the Option in compliance with the terms and provisions of the ISO, including its notice requirements. SAC {I 100—101.4 The Company, however, refused his attempt. SAC 4/108. In February 2024, Kalpaxis again demanded to exercise the Option in compliance with the terms and provisions of the ISO. SAC 4 129-30. The Company again refused to allow him to exercise the Option. SAC {{] 132-33. Two months later, Kalpaxis sued defendants in the instant action on the basis of this Court’s diversity jursidction. See Compl., ECF No. 1. Following defendants’ request for a pre-motion conference in advance of an anticipated motion to dismiss, Kalpaxis requested, and was granted, leave to amend. See ECF Order dated July 19, 2024. On August 2, 2024, Kalpaxis filed the amended complaint (“AC”), bringing claims for promissory estoppel and unjust enrichment against defendants, and claims for breach of

4 Paragraph 100 of the SAC alleges that this demand took place in January 2023 “after receiving the company’s Q4 financials,” but paragraphs 95-97 and 108 all refer to Plaintiff receiving those Q4 financials at the close of Q4 of 2023 (i.e., December 2023). It is reasonable to infer that the demand referred to in paragraph 100 took place in January 2024, not January 2023.

contract, quantum meruit, and accounting against the Company. AC ¶¶ 75–109, ECF No. 17. Defendants moved pursuant to Rule 12(b)(6) of the Federal Rules of Civil Procedure to dismiss the complaint in full for failure to state a claim. See Defs’ Mot. to Dismiss Pl’s Amended Complaint, ECF No. 23. On March 13, 2025, the Court held a hearing on defendants’ motion to dismiss. Minute Entry dated March 13, 2025. At that

hearing, the parties informed the Court that they had briefed a portion of the motion to dismiss using the wrong state’s law. Tr. of Oral Arg. (“Tr.”) 6:23–7:13, 7:22-25, ECF No. 32. According to the parties, the ISO incorporates by reference the Company’s 2016 Stock Incentive Plan, which contains a Massachusetts choice of law provision. Tr. 5:16– 6:05; see ISO 2 (“This Option is and shall be subject in every respect to the provisions of the Company’s 2016 Stock Incentive Plan . . . which is incorporated herein by reference . . . .”). After discussing the choice of law issue with the parties, the Court explained several percieved deficiencies in the AC and once again gave Kalpaxis the opportunity to amend to cure those deficiencies. Tr. 30:21–22. Kalpaxis filed the SAC on April 16, 2025. See SAC. LEGAL STANDARD

When deciding a motion to dismiss, a district court must “accept[] all factual claims in the complaint as true, and draw[] all reasonable inferences in the plaintiff’s favor.” Lotes Co. v. Hon Hai Precision Indus. Co., 753 F.3d 395, 403 (2d Cir. 2014).5 Factual disputes are typically not the subject of the Court’s analysis, as Rule 12 motions “probe the legal, not the factual, sufficiency of a complaint.” Plastic Surgery Grp., P.C. v.

5 Throughout this opinion, the Court omits all internal quotation marks, footnotes, and citations, and adopts all alterations, unless otherwise indicated. United Healthcare Ins. Co. of N.Y., 64 F. Supp. 3d 459, 468–69 (E.D.N.Y. 2014). That is, “the issue” on a motion to dismiss “is not whether a plaintiff will ultimately prevail” but instead whether a plaintiff is “entitled to offer evidence to support the[ir] claims.” Sikhs for Just. v. Nath, 893 F. Supp. 2d 598, 615 (S.D.N.Y. 2012).

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