Aym Techs., LLC v. Scopia Cap. Mgmt. Lp, 2021 Ncbc 20b

CourtNorth Carolina Business Court
DecidedMarch 31, 2021
Docket16-CVS-21788
StatusPublished

This text of Aym Techs., LLC v. Scopia Cap. Mgmt. Lp, 2021 Ncbc 20b (Aym Techs., LLC v. Scopia Cap. Mgmt. Lp, 2021 Ncbc 20b) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Aym Techs., LLC v. Scopia Cap. Mgmt. Lp, 2021 Ncbc 20b, (N.C. Super. Ct. 2021).

Opinion

Aym Techs., LLC v. Scopia Cap. Mgmt. LP, 2021 NCBC 20B.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION MECKLENBURG COUNTY 16 CVS 21788

AYM TECHNOLOGIES, LLC,

Plaintiff and Counterclaim- Defendant,

v. SECOND AMENDED ORDER AND OPINION ON THE SCOPIA PARTIES’ SCOPIA CAPITAL MANAGEMENT LP; and COMMUNITY BASED MOTION FOR LEAVE TO AMEND CARE, LLC, COUNTERCLAIM, AYM’S MOTION FOR SUMMARY JUDGMENT, AND Defendants and THE SCOPIA PARTIES’ MOTION FOR Counterclaim- SANCTIONS AND AWARD OF Plaintiffs. ATTORNEYS’ FEES

1. THIS MATTER is before the Court on (i) Defendants-Counterclaim

Plaintiffs Scopia Capital Management LP (“Scopia”) and Community Based Care,

LLC’s (“CBC”; together, the “Scopia Parties”) Motion for Leave to Amend

Counterclaim (the “Motion to Amend”), (ECF No. 230); (ii) Plaintiff-Counterclaim

Defendant Aym Technologies, LLC’s (“Aym”) Motion for Summary Judgment (the

“Motion for Summary Judgment”), (ECF No. 232); and (iii) the Scopia Parties’ Motion

for Sanctions and Award of Attorneys’ Fees (the “Motion for Attorneys’ Fees”), (ECF

No. 237), (collectively, the “Motions”).

2. This case arises from failed negotiations between Aym’s Chief Executive

Officer (“CEO”), Lewis Quinn (“Quinn”), and the Scopia Parties concerning Aym’s

potential investment in CBC or one of the Scopia Parties’ investment funds. The

Scopia Parties contend that Quinn, on behalf of Aym, misrepresented Aym’s intention

to invest while simultaneously seeking to either sell Aym to the Scopia Parties or, in the event that the Scopia Parties did not purchase Aym, cause Aym to directly

compete with them.

3. Having considered the Motions, the related briefing, and the arguments of

counsel at the hearing on the Motions, the Court, in the exercise of its discretion,

hereby DENIES the Scopia Parties’ Motion to Amend, GRANTS Aym’s Motion for

Summary Judgment, and DENIES the Scopia Parties’ Motion for Attorneys’ Fees.

Brooks, Pierce, McLendon, Humphrey & Leonard LLP, by Eric M. David, Jennifer K. Van Zant, and Cordon M. Smart, for Plaintiff-Counterclaim Defendant Aym Technologies, LLC.

Pollack Solomon Duffy LLP, by Barry Pollack, and Ogletree, Deakins, Nash, Smoak & Stewart, P.C., by Benjamin R. Holland and Carl Short, for Defendants-Counterclaim Plaintiffs Scopia Capital Management LP and Community Based Care, LLC.

Bledsoe, Chief Judge.

I.

FACTUAL BACKGROUND

4. The Court does not make findings of fact on a motion for summary judgment.

See Hyde Ins. Agency, Inc. v. Dixie Leasing Corp., 26 N.C. App. 138, 142 (1975).

Rather, the Court summarizes the relevant evidence of record, including both the

facts in dispute and those that are uncontested, to provide context for the claims and

the Motions.

5. Quinn is the CEO of Aym, a software company that develops programs for

intellectual and developmental disability (“IDD”) providers in North Carolina. (Aff.

Lewis Quinn ¶¶ 1, 5 [hereinafter “Quinn Aff.”], ECF No. 137.) Aym’s software package, OnTarget, enables IDD providers to operate their businesses from a single,

integrated platform. (Quinn Aff. ¶ 6.)

6. At some point prior to the summer of 2015, Quinn devised a plan for Aym to

acquire certain customers and thereby provide “a foundation for a larger venture” to

“acquire non-customer providers” and offer “higher quality services to the market[.]”

(Quinn Aff. ¶ 22.) According to Quinn, he memorialized this strategy in a paper called

the “Vertical Integration Plan” (the “Plan”), which contained information on “how to

identify targets for acquisition,” how to “start with a foundation company and

thereafter acquire smaller targets,” and how to “finance the acquisitions.” (Quinn.

Aff. ¶ 25.)

7. Scopia, a New York-based asset management firm, was at this same time

also interested in acquiring smaller providers within the IDD industry. (Aff. David

Wittels ¶ 2 [hereinafter “Wittels Aff.”], ECF No. 119.2.) By 2014, Scopia was involved

in a venture to “roll up” providers around the country and open a North Carolina

office. (Wittels Aff. ¶ 2.)

8. In February 2015, David Wittels (“Wittels”), a soon-to-be-member of CBC’s

board of directors and a former member of Scopia, (Aff. David Wittels ¶ 1 [hereinafter

“Wittels Aff. II”], ECF No. 266), had a chance encounter with Quinn’s friend, Douglass

Kahn (“Kahn”), at which time they discussed Scopia’s efforts to create what would

ultimately become CBC, (see May 2015 Emails, at SJ 003–005 [hereinafter “May 2015

Emails”], ECF No. 236.1). CBC was later formed in June 2015 to serve as a holding company for the investments of various Scopia-affiliated funds. (Scopia Parties’

Answer Compl. & Countercl. ¶ 7 [hereinafter “Countercls.”], ECF No. 69.)

9. In May 2015, shortly before CBC’s formation, Wittels proposed to Kahn an

investment opportunity in CBC. (May 2015 Emails.) Kahn suggested that Wittels

speak with Quinn regarding Aym’s potential investment in CBC. (May 2015 Emails.)

In July 2015, Kahn forwarded to Quinn communications between Kahn, Wittels, and

Gene Rodgers (“Rodgers”), another investor in the IDD industry, regarding the

potential CBC investment opportunity. (Decl. Carl M. Short III [hereinafter “Short

Decl.”] Ex. G, ECF No. 195.2.)

10. At that point, Quinn, acting for Aym, (see, e.g., Short Decl. Ex. N, at 63:25–

64:3, ECF No. 265), began negotiations with Scopia regarding Aym’s potential

investment in Scopia and CBC. Quinn “believed an opportunity existed where Aym

could join the newly-formed CBC and operate the new IDD company with the addition

of further targets identified by Aym.” (Quinn Aff. ¶ 58.)

11. As these discussions progressed, Quinn sought to sell Aym to CBC. (See

Wittels Aff. II ¶ 14 (“At some point in or about late July or early August 2015, Mr.

Quinn asked about the possibility of CBC purchasing Aym[.]”); July 27 Quinn Email,

at SJ 001, ECF No. 236.1 (asking Rodgers whether “there would be any support for a

non-cash acquisition of Aym[,]” “[a]n equity for equity transaction”); July 27 Quinn

Email, at SJ 048, ECF No. 236.1 (forwarding to Wittels Aym’s vertical acquisition

strategy to “give [Wittels] a pretty good idea of how [Quinn] s[aw] the business”).)

Rodgers, however, expressed doubt that “an equity play would work,” (July 27 Rodgers Email, at SJ 001, ECF No. 236.1), and Wittels testified that the Scopia

Parties were upfront in their discussions with Quinn that CBC was not interested in

purchasing Aym, (Wittels Aff. II ¶ 14.)

12. Quinn, meanwhile, indicated that Aym was no longer interested in

acquiring companies within the IDD industry. In particular, Wittels testified that he

spoke with Quinn by telephone on 26 July 2015 and Quinn had stated that while he

“had considered having Aym acquire IDD service providers[,]” “such an effort at

expansion by Aym into IDD services was a thing of the past.” (Wittels Aff. II ¶ 8.)

According to Wittels, Quinn made the same representation several days later on 31

July 2015. (Wittels Aff. II ¶ 12.)

13. During July and August 2015, Scopia communicated to Quinn important

details regarding the investment opportunity in CBC. In particular, in August 2015,

Scopia advised Quinn that Scopia had recruited Brook Phillips (“Phillips”) to serve as

an executive officer for CBC. (See Short Decl. Ex. U, ECF No. 265; Short Decl. Ex. 2,

at 38:2–5, ECF No. 231.4.)

14.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Persis Nova Construction, Inc. v. Edwards
671 S.E.2d 23 (Court of Appeals of North Carolina, 2009)
Pembee Mfg. Corp. v. Cape Fear Const. Co., Inc.
329 S.E.2d 350 (Supreme Court of North Carolina, 1985)
Sunamerica Financial Corp. v. Bonham
400 S.E.2d 435 (Supreme Court of North Carolina, 1991)
Brooks v. Giesey
432 S.E.2d 339 (Supreme Court of North Carolina, 1993)
Dobson v. Harris
530 S.E.2d 829 (Supreme Court of North Carolina, 2000)
Morris v. Bailey
358 S.E.2d 120 (Court of Appeals of North Carolina, 1987)
Computer Decisions, Inc. v. Rouse Office Management of North Carolina, Inc.
477 S.E.2d 262 (Court of Appeals of North Carolina, 1996)
Lowe v. Bradford
289 S.E.2d 363 (Supreme Court of North Carolina, 1982)
Howerton v. Arai Helmet, Ltd.
597 S.E.2d 674 (Supreme Court of North Carolina, 2004)
Combs & Associates, Inc. v. Kennedy
555 S.E.2d 634 (Court of Appeals of North Carolina, 2001)
Bartlett Milling Co., LP v. Walnut Grove Auction and Realty Co., Inc.
665 S.E.2d 478 (Court of Appeals of North Carolina, 2008)
Kessing v. National Mortgage Corporation
180 S.E.2d 823 (Supreme Court of North Carolina, 1971)
Pinczkowski v. Norfolk Southern Railway Co.
571 S.E.2d 4 (Court of Appeals of North Carolina, 2002)
C.F.R. Foods, Inc. v. Randolph Development Co.
421 S.E.2d 386 (Court of Appeals of North Carolina, 1992)
Hajmm Co. v. House of Raeford Farms, Inc.
403 S.E.2d 483 (Supreme Court of North Carolina, 1991)
Skinner v. EF Hutton & Co., Inc.
333 S.E.2d 236 (Supreme Court of North Carolina, 1985)
Hyde Insurance Agency, Inc. v. Dixie Leasing Corp.
215 S.E.2d 162 (Court of Appeals of North Carolina, 1975)
White v. Consolidated Planning, Inc.
603 S.E.2d 147 (Court of Appeals of North Carolina, 2004)
Estate of Loftin v. Loftin
205 S.E.2d 574 (Court of Appeals of North Carolina, 1974)
B & F SLOSMAN v. Sonopress, Inc.
557 S.E.2d 176 (Court of Appeals of North Carolina, 2001)

Cite This Page — Counsel Stack

Bluebook (online)
Aym Techs., LLC v. Scopia Cap. Mgmt. Lp, 2021 Ncbc 20b, Counsel Stack Legal Research, https://law.counselstack.com/opinion/aym-techs-llc-v-scopia-cap-mgmt-lp-2021-ncbc-20b-ncbizct-2021.