BLUEPRINT CAPITAL ADVISORS, LLC v. PHIL MURPHY

CourtDistrict Court, D. New Jersey
DecidedApril 8, 2025
Docket2:20-cv-07663
StatusUnknown

This text of BLUEPRINT CAPITAL ADVISORS, LLC v. PHIL MURPHY (BLUEPRINT CAPITAL ADVISORS, LLC v. PHIL MURPHY) is published on Counsel Stack Legal Research, covering District Court, D. New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
BLUEPRINT CAPITAL ADVISORS, LLC v. PHIL MURPHY, (D.N.J. 2025).

Opinion

UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY

BLUEPRINT CAPITAL ADVISORS, LLC, Civil Action No. 20-7663 (JXN) (MAH)

Plaintiff, OPINION v.

STATE OF NEW JERSEY, et al.,

Defendants.

This matter comes before the Court upon Plaintiff Blueprint Capital Advisors LLC’s (“BCA”) motion to disqualify Connell Foley, LLP (“Connell Foley”) as counsel for Defendants Jason MacDonald, Christopher McDonough, Corey Amon, Dini Ajmani, Derrick Green, George Helmy, and Matthew Platkin (together, the “State Defendants”). Mot. to Disqualify, Dec. 10, 2024, D.E. 368. Pursuant to Federal Rule of Civil Procedure 78 and Local Civil Rule 78.1, the Court decided this motion without oral argument. At the core of this motion is whether Elnardo J. Webster II, who is now an attorney at Connell Foley, previously represented BCA or one of its principals, Jacob Walthour. Because the Court concludes that BCA has not carried its burden to prove that attorney-client relationship existed, or the disqualification is warranted, the Court will deny the motion. I. BACKGROUND A. The Instant Litigation On June 23, 2020, BCA filed its Complaint against various State officials, public and private entities, and individuals. Compl., D.E. 1. On November 23, 2020, BCA filed an Amended Complaint asserting allegations against Governor of New Jersey Phil Murphy in his official capacity, as well as the State of New Jersey Division of Investment (“DOI”); the State Defendants; BlackRock, Inc. and BlackRock Alternative Advisors (the “BlackRock Defendants”); Cliffwater, LLC (“Cliffwater”); Owl Rock Capital Corporation (“Owl Rock”); Samantha Rosenstock (“Rosenstock”); and Timothy Walsh (“Walsh”) (collectively “Defendants”). Am. Compl., Nov. 23, 2020, D.E. 78. On December 23, 2022, the Honorable

Julien X. Neals granted, in part, and denied, in part, Defendants’ motions to dismiss BCA’s Amended Complaint. Op., D.E. 201. BCA’s remaining clams include declaratory, injunctive and equitable relief, and monetary damages for violations of 42 U.S.C. § 1981 and § 1983, the New Jersey Civil Rights Act, racketeering in violation of 18 U.S.C. § 1962 and N.J.S.A. 2C:41- 2, breach of contract, fiduciary duty, and claims for unfair competition, civil conspiracy, fraud, commercial disparagement, and tortious interference. See Op., D.E. 201; Order, Dec. 23, 2022, D.E. 202. The remaining defendants are the State Defendants, the BlackRock Defendants, Cliffwater, Owl Rock, Walsh, and Rosenstock. See Op., D.E. 201; Order, D.E. 202. BCA describes itself as an “African-American asset management firm in New Jersey. Am. Compl., Nov. 23, 2020, D.E. 78, ¶ 5. Its principals, Jacob Walthour and Carrie Pickett,

founded BCA after decades at various esteemed financial services firms. Id. ¶ 29. BCA alleges that it was subject to racial discrimination by State of New Jersey officials and the victim of a years-long effort to thwart BCA’s efforts to provide investment services to the State. See Am. Compl., D.E. 78. BCA alleges that DOI officials conspired with other public officials and private actors to misappropriate BCA’s proprietary investment model (FAIR Program) and implement it with a different private investment firm. BCA also alleges that DOI officials ignored BCA’s attempts to manage DOI funds, unnecessarily dragged out the negotiations for an investment contract between the State and BCA, insisted on unfair contract terms inconsistent

2 with industry standards, refused to approve any investment BCA pitched, and, after BCA complained of the alleged misconduct, State officials retaliated and disparaged BCA in the investment market. Id. ¶ 3. For a majority of this lawsuit, BCA has been represented by attorneys Ms. Tabaksblat

and Mr. Bowe of the law firm Brown Rudnick, LLP. See Substitution of Counsel, Oct. 5, 2020, D.E. 64. The State Defendants have had prior counsel but have been represented by the law firm Connell Foley and attorneys Mr. Lacey and Ms. Iannaccone since June 13, 2024. See Substitution of Counsel, June 13, 2024, D.E. 334; Substitution of Counsel, June 13, 2024, D.E. 335. Connell Foley’s substitution into this case brought forth the instant dispute. B. Elnardo J. Webster II’s Professional Relationship with Jacob Walthour BCA and the State Defendants each submit multiple affidavits attesting to their respective version of events prompting this motion to disqualify.1 BCA’s contends that an attorney-client

1 For clarity, certain citations to the record are abbreviated as follows: Jacob Walthour’s December 10, 2024 Affidavit in Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 368-2 is referred to as Walthour Aff. I, D.E. 368-2. Michael J. Bowe, Esq.’s December 10, 2024 Affidavit in Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 368-3 is referred to as Bowe Aff., D.E. 368-3. Lauren Tabaksblat, Esq.’s December 10, 2024 Affidavit in Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 368-4 is referred to as Tabaksblat Aff. I, D.E. 368-4. John P. Lacey, Esq.’s January 21, 2025 Declaration in Opposition to BCA’s Motion to Disqualify Connell Foley LLP, D.E. 384-1 is referred to as Lacey Decl., D.E. 384-1. Elnardo Webster II, Esq.’s January 21, 2025 Declaration in Opposition to BCA’s Motion to Disqualify Connell Foley LLP, D.E. 384-2 is referred to as Webster Decl. I, D.E. 384-2. Lauren F. Iannaccone, Esq.’s January 21, 2025 Declaration in Opposition to BCA’s Motion to Disqualify Connell Foley LLP, D.E. 384-3 is referred to as Iannaccone Decl. I, D.E. 384-3. Jacob Walthour’s February 11, 2024 Affidavit in Further Support of BCA’s Motion to Disqualify 3 relationship previously existed between one of BCA’s principals, Jacob Walthour, and a Connell Foley Partner, Elnardo J. Webster II. Walthour Aff. I, D.E. 368-2, ¶ 6. Mr. Webster vehemently disagrees with Mr. Walthour’s characterization of the relationship and Mr. Walthour’s description of the events leading to this motion. See Webster Decl., D.E. 384-2,

¶¶ 4-6. That Mr. Walthour and Mr. Webster knew each other before this litigation is not in dispute. They lived in the same town, have children around the same age, and are social acquittances. Id. Sometime in 2016, the two met to discuss issues BCA had in its working relationship with the DOI and the State. Walthour Aff., D.E. 368-2, ¶ 6. At this point, Messrs. Walthour’s and Webster’s versions of events diverge. According to Mr. Walthour, Mr. Webster facilitated meetings with various New Jersey officials, assisted on strategic decisions, and provided legal advice about next steps towards a potential lawsuit. Id. ¶¶ 7-9. However, Mr. Webster maintains that he did not provide BCA or Mr. Walthour legal advice during this conversation. Webster Decl. I, D.E. 384-2, ¶ 28. Instead, Mr. Webster avers that Mr. Walthour

Connell Foley LLP, D.E. 397-1 is referred to as Walthour Aff. II, D.E. 397-1. Lauren Tabaksblat, Esq.’s February 11, 2024 Affidavit in Further Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 397-2 is referred to as Tabaksblat Aff. II, D.E. 397-2. Valerie Martin’s February 11, 2024 Affidavit in Further Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 397-3 is referred to as Martin Aff., D.E. 397-3. Dwayne Warren Jr.’s February 11, 2024 Affidavit in Further Support of BCA’s Motion to Disqualify Connell Foley LLP, D.E. 397-4 is referred to as Warren Aff., D.E. 397-4. Elnardo Webster II, Esq.’s February 26, 2025 Supplemental Declaration in Opposition to BCA’s Motion to Disqualify Connell Foley LLP, D.E. 401-1 is referred to as Webster Decl. I, D.E. 384- 2.

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