CFO Rick Inc v. Michael Young

CourtDistrict Court, N.D. California
DecidedFebruary 17, 2026
Docket3:25-cv-09896
StatusUnknown

This text of CFO Rick Inc v. Michael Young (CFO Rick Inc v. Michael Young) is published on Counsel Stack Legal Research, covering District Court, N.D. California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
CFO Rick Inc v. Michael Young, (N.D. Cal. 2026).

Opinion

1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 7 CFO RICK INC, Case No. 25-cv-09896-EMC

8 Plaintiff, ORDER DENYING DEFENDANT’S 9 v. MOTION TO COMPEL ARBITRATION AND DEFENDANT’S 10 MICHAEL YOUNG, MOTION TO DISMISS

11 Defendant. Docket Nos. 12, 22 12 13 14 The above-referenced case is a declaratory judgment action. The putative plaintiff is CFO 15 Rick, Inc., and the putative defendant is Michael Young. 16 • CFO Rick is a company that provides accounting and financial services to other 17 companies. Its CEO is Rick Belgarde. One of the companies that CFO Rick has 18 provided services to is Millwright Holdings, LLC. 19 • Mr. Young is the majority owner and managing member of Millwright. It appears 20 that, as of 2020, there were only two members of Millwright: Mr. Young and Mr. 21 Belgarde (who, as noted above, is also the CEO of CFO Rick). Mr. Young is the 22 majority owner of Millwright, and Mr. Belgarde is the minority owner. For at least 23 a period of time, Mr. Belgarde also served as the CFO of Millwright. 24 In November 2025, Mr. Young initiated an arbitration against both Mr. Belgarde and CFO 25 Rick, claiming that they had engaged in misconduct in conjunction with work done for Millwright. 26 The arbitration demand was filed with AAA. CFO Rick filed this lawsuit shortly thereafter 27 1 seeking a declaratory judgment that it is not subject to arbitration.1 Now pending before the Court 2 is (1) Mr. Young’s motion to compel CFO Rick’s case to arbitration and (2) Mr. Young’s motion 3 to dismiss CFO Rick’s case. Having considered the parties’ briefs and accompanying 4 submissions, as well as the oral argument of counsel, the Court hereby DENIES both motions. 5 I. FACTUAL & PROCEDURAL BACKGROUND 6 The following narrative is based on CFO Rick’s complaint and the declarations filed by the 7 parties in conjunction with the pending motion to compel arbitration. There are no disputes of fact 8 unless so noted. 9 A. Millwright 10 Millwright is an LLC formed in Delaware in or about 2017. As of 2020, Millwright had 11 only two members: Mr. Young and Mr. Belgarde (as reflected by an LLC Agreement signed in 12 August 2020). See Compl., Ex. A (LLC Agreement). 13 Although not entirely clear, there seems to be no dispute that, at some point in time, Mr. 14 Belgarde became Millwright’s CFO. There also seems to be no dispute that CFO Rick provided 15 accounting and financial services for Millwright, both before and after Mr. Belgarde became 16 Millwright’s CFO. 17 The parties do dispute, however, whether CFO Rick essentially acted as the CFO for 18 Millwright, either before or after Mr. Belgarde became Millwright’s CFO. Mr. Young takes the 19 position that CFO Rick essentially carried out CFO duties before and after. CFO Rick disagrees. 20 See, e.g., Belgarde Decl. ¶ 24(r) (“CFO Rick DENIES Young’s allegations that the financial 21 oversight of the Company was entrusted to Belgarde in his capacity as CFO, and that underlying 22 duties associated with that role were delegated and then carried out by CFO Rick.”); Belgarde 23 Decl. ¶ 24(y) (“CFO Rick DENIES Young’s allegations that there was no instance in which the 24 roles of Belgarde and CFO Rick (as to Millwright) diverged or the duties were separately 25 exercised.”); Belgarde Decl. ¶ 24(aa) (“CFO Rick DENIES Young’s allegations that CFO Rick’s 26 provision of services to Millwright and Belgarde’s performance of the Company’s CFO role are 27 1 indistinguishable.”). 2 B. LLC Agreement for Millwright 3 As noted above, Millwright has an LLC Agreement (also referred to as the Operating 4 Agreement). See Compl., Ex. A (LLC Agreement). 5 The LLC Agreement states that the parties to the contract are: (1) Millwright; (2) each 6 individual executing the Agreement as a member; (3) other individuals who from time to time 7 become members by joining the Agreement; and (4) “other persons who are otherwise bound or 8 become bound by [the] Agreement as provided herein.” Compl., Ex. A (LLC Agreement at 1). 9 Both Mr. Young and Mr. Belgarde executed the LLC Agreement as members of the LLC. 10 The signature page for the contract bears their signatures and reflects that each signed the LLC 11 Agreement as a “member” of the LLC specifically. See Compl., Ex. A (LLC Agreement) (at page 12 35, showing signatures for Mr. Young and Mr. Belgarde under the caption “THE COMMON 13 MEMBERS”). 14 The LLC Agreement notes that Mr. Young is the majority owner of Millwright, and Mr. 15 Belgarde the minority owner. See Compl., Ex. A (LLC Agreement, Scheule A). It also states that 16 Mr. Young is the manager of Millwright. See Compl., Ex. A (LLC Agreement § 7.1). 17 The LLC Agreement further provides that “[t]he Manager may appoint and remove from 18 time to time such officers of the Company as the Manager determines advisable, each of whom 19 shall exercise such powers and perform such duties as shall be determined by the Manager from 20 time to time.” Compl., Ex. A (LLC Agreement § 7.8). The agreement does not expressly appoint 21 Mr. Belgarde as Millwright’s CFO but seems to reflect that Mr. Belgarde either already was or 22 would become the CFO for Millwright. In § 6.7(c), the agreement states:

23 Each Member agrees that, while such Member is a Member of the Company, such Member will not, and shall cause his Affiliates not 24 to, directly or indirectly, without the express written consent of the Company: 25 (1) own or have an interest in or act as an officer, director, 26 partner, principal, shareholder, sole proprietor, employee, agent, representative, consultant, member, manager or 27 independent contractor of any proprietorship, partnership, Company's Business in the geographic area in which the 1 Company does business; provided, that with respect to Belgarde, his acting as Chief Financial Officer and as a 2 provider of accounting services for companies conducting the Company's Business that are not direct competitors of the 3 Company shall not be a violation of this Section 6.7. 4 Compl., Ex. A (LLC Agreement § 6.7(c) (emphasis added). CFO Rick maintains that Mr. 5 Belgarde was not “assigned the CFO title or duties by virtue of signing the [LLC] Agreement.” 6 Belgarde Decl. ¶ 25(i). Other than referring to Mr. Belgarde acting as the CFO, the LLC 7 Agreement says nothing else about the CFO position. 8 One of the substantive terms of the LLC Agreement is that

9 [e]ach Member understands and acknowledges that the conduct of the Company’s business may involve business dealings and 10 undertakings with Members, the Manager and their Affiliates. In any such event, those dealings and undertakings shall be at arm’s 11 length and on commercially reasonable terms, and no Manager or officer shall use the Manager’s or officer’s office to obtain favorable 12 treatment for or on behalf of the Manager or officer, Affiliates or others which would not otherwise be received in an arm’s length 13 transaction. 14 Compl., Ex. A (LLC Agreement § 6.7(b)). 15 Another substantive term in the LLC Agreement provides:

16 The Manager’s and officers’ duty of care in the discharge of his or her duties to the Company is limited to refraining from engaging in 17 grossly negligent or reckless conduct, intentional misconduct, or a knowing violation of law which results or shall have resulted in 18 material loss or injury to the Property or operations of the Company. 19 Compl., Ex. A (LLC Agreement § 8.1). 20 Finally, the LLC Agreement contains an arbitration clause. It states as follows.

21 12.14 Dispute Resolution. To the extent feasible, the parties desire to resolve any controversies or claims arising out of or relating to 22 this Agreement through discussions and negotiations between each other. All parties agree to attempt to resolve any disputes, 23 controversies or claims arising out of or relating to this Agreement by face-to-face negotiation with the other party.

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Bluebook (online)
CFO Rick Inc v. Michael Young, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cfo-rick-inc-v-michael-young-cand-2026.