Cold Springs Ventures, LLC v. Gilead Scis., Inc.

2014 NCBC 10
CourtNorth Carolina Business Court
DecidedMarch 26, 2014
Docket14-CVS-1873
StatusPublished
Cited by1 cases

This text of 2014 NCBC 10 (Cold Springs Ventures, LLC v. Gilead Scis., Inc.) 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
Cold Springs Ventures, LLC v. Gilead Scis., Inc., 2014 NCBC 10 (N.C. Super. Ct. 2014).

Opinion

Cold Springs Ventures, LLC v. Gilead Scis., Inc., 2014 NCBC 10.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION COUNTY OF DURHAM 14 CVS 1873

COLD SPRINGS VENTURES, LLC, a North ) Carolina Limited Liability Company; ) COMMONWEALTH VENTURES, LLC, a ) Virginia Limited Liability Company; ) ENDEAVORS VENTURE, a Florida General ) Partnership; JAMES M. STRATHMEYER; ) AMENDED BRUCE J. BOEHM and JEANNIE MULLEN, ) ORDER ON MOTION FOR Plaintiffs ) PRELIMINARY INJUNCTION ) AND v. ) NOTICE OF HEARING ) GILEAD SCIENCES, INC.; a California ) Corporation; KRYOSPHERE, INC.; a ) Georgia Corporation; L. ERIC HALLMAN; ) DOUGLAS BAKER; NEIL JONES; MICHAEL ) J. SCHEIRBEEK; JOHN O. NORTON; ) PATRIC NORTON and RYAN NORTON, ) Defendants )

THIS Amended Order is filed on the court’s own motion pursuant to the

provisions of Rule 60(a), North Carolina Rules of Civil Procedure, to correct a clerical

mistake in that Order on Motion for Preliminary Injunction and Notice of Hearing

previously entered in this civil action on March 21, 2014 (“March 21 Order”). This

Amended Order shall supersede the March 21 Order in all respects. The March 21

Order is WITHDRAWN.

THIS CAUSE, designated a mandatory complex business case by Order of the

Chief Justice of the North Carolina Supreme Court, pursuant to N.C. Gen. Stat. § 7A-

45.4(b) (hereinafter, references to the North Carolina General Statutes will be to "G.S."),

and assigned to the undersigned Chief Special Superior Court Judge for Complex

Business Cases, came before the court for hearing upon Plaintiffs' request for temporary, preliminary and permanent injunctive relief ("Motion"), contained in their

Amended Complaint;1 was so heard on March 4, 2014; and

THE COURT, after reviewing the Motion, briefs in support of and in opposition to

the Motion, arguments of counsel and other appropriate matters of record, FINDS and

CONCLUDES that:

Background

1. Defendant Gilead Sciences, Inc. ("Gilead") has joined Plaintiffs as

respondents in an arbitration action ("Arbitration") pending before the American

Arbitration Association ("AAA").2

2. Plaintiffs are former investors, shareholders, and directors of Old Kryo,

Inc. ("NC Kryo"),3 a North Carolina corporation. In September 2010, NC Kryo entered

into a contract with Gilead4 (“Gilead Contract”), which contained a mandatory arbitration

clause.5 In March 2011, NC Kryo entered into an agreement ("Kryo Transaction") to sell

all or substantially all of its assets and business to Kryosphere, Inc. ("GA Kryo"), a

Georgia corporation.6 As part of the Kryo Transaction, NC Kryo purportedly assigned

the Gilead Contract to GA Kryo.7 Gilead contends that NC Kryo did not obtain prior

written consent from Gilead for the assignment of the Gilead Contract to GA Kryo, which

is required under the Gilead Contract.8 NC Kryo was subsequently dissolved.9 In

1 In its February 11, 2014 Notice of Hearing, the court noticed Plaintiffs' request contained in their initial Verified Complaint. Plaintiffs filed an Amended Complaint on February 28, 2014, and the Amended Complaint is properly before the court. 2 Am. Compl. ¶¶ 79-80. 3 Id. ¶¶ 1-6. 4 Ex. A to Am. Compl. 5 Am. Compl. ¶¶ 24, 136. 6 Id. ¶¶ 55, 59. 7 See id. ¶ 68. 8 See id.; Pls.' Mem. Supp. Req. Prelim. Inj. ("Pls.' Br.") 5; Gilead Contract. 9 Am. Compl. ¶ 63. October 2013, Gilead initiated the Arbitration against GA Kryo and the Plaintiffs in this

action for alleged breach of the Gilead Contract.10 The parties agree that Plaintiffs were

not signatories to the Gilead Contract and normally would not be bound under the

arbitration clause contained in that agreement.11

The Core Issue -- Piercing the Veil -- The Instrumentality Rule

3. Notwithstanding that Plaintiffs did not sign the Gilead Contract, they have

been named as respondents in the Arbitration. Gilead contends that Plaintiffs committed

fraud and depletion of NC Kryo's resources and that they in substance are the alter ego

of NC Kryo. Gilead argues that Plaintiffs’ actions and relationship with NC Kryo would

expose Plaintiffs to liability to Gilead under the instrumentality rule even though Plaintiffs

were not signatories to the Gilead Contract or any other arbitration agreement.12 The

"instrumentality rule" is a longstanding doctrine that enables courts to "disregard the

corporate form" and "pierce the corporate veil," extending liability to individuals where

"necessary to prevent fraud or to achieve equity." Glenn v. Wagner, 313 N.C. 450, 454

(1985) (citations omitted).

4. Plaintiffs concede that they could be compelled to participate in the

Arbitration if they are liable under the instrumentality rule.13 Plaintiffs contend, however,

that Gilead has not alleged any misconduct on Plaintiffs' part as investors and directors

of NC Kryo that would subject them to such liability. Plaintiffs argue that Gilead's "bare-

bone, conclusory allegations" of fraud and depletion of resources, and liability based

upon an alter ego theory, are insufficient to compel Plaintiffs to participate in the

10 Id. ¶ 79; Ex. B to Am. Compl. ("Arbitration Demand"). 11 See Pls.' Br. 14; Def. Gilead Resp. Opp. Pls.' Mot. Prelim. Inj. ("Gilead Br.") 14. 12 See Arbitration Demand. 13 Pls.' Br. 14. Arbitration.14 Plaintiffs thus object to their inclusion in the Arbitration and bring this civil

action seeking declaratory and injunctive relief from this court.

14 Id. at 16. Discussion

5. For purposes of this Order, Plaintiffs' Motion15 is best characterized as

three separate requests for injunctive relief: (a) a request for preliminary and permanent

injunctive relief enjoining Gilead from seeking to arbitrate the jurisdictional question of

whether Plaintiffs are subject to arbitration,16 (b) a request for a preliminary injunction

staying the Arbitration until this court determines whether Plaintiffs are subject to the

AAA's jurisdiction and (c) a request for a preliminary injunction staying the Arbitration

until this court makes a final substantive determination on the merits of Gilead’s

contention that Plaintiffs may be liable to Gilead under the instrumentality rule.17

6. Insofar as the Motion seeks preliminary injunctive relief, Plaintiffs bear the

burden of persuasion. Pruitt v. Williams, 288 N.C. 368, 372 (1975). A preliminary

injunction is an extraordinary measure that "will not be lightly granted." Travenol Lab.,

Inc. v. Turner, 30 N.C. App. 686, 692 (1976) (citation omitted). A plaintiff must show "a

likelihood of success on the merits of his case and . . . [that] plaintiff is likely to sustain

irreparable loss unless the injunction is issued, or if, in the opinion of the Court,

issuance is necessary for the protection of his rights during the course of litigation."

Analog Devices, Inc. v. Michalski, 157 N.C. App. 462, 466 (2003) (citations omitted).

7. Gilead contends that it need not fully state a claim for relief in its

Arbitration Demand that would meet the standards of Rule 12(b)(6), North Carolina

15 See Am. Compl. ¶¶ 153-160. 16 Id. ¶ 159. 17 Am. Compl. ¶ 160.

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Related

Cold Springs Ventures, LLC v. Gilead Sci., Inc.
2015 NCBC 1 (North Carolina Business Court, 2015)

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2014 NCBC 10, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cold-springs-ventures-llc-v-gilead-scis-inc-ncbizct-2014.