Dixie v. Scheer

2025 NY Slip Op 30167(U)
CourtNew York Supreme Court, New York County
DecidedJanuary 11, 2025
DocketIndex No. 654690/2022
StatusUnpublished

This text of 2025 NY Slip Op 30167(U) (Dixie v. Scheer) is published on Counsel Stack Legal Research, covering New York Supreme Court, New York County primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Dixie v. Scheer, 2025 NY Slip Op 30167(U) (N.Y. Super. Ct. 2025).

Opinion

Dixie v Scheer 2025 NY Slip Op 30167(U) January 11, 2025 Supreme Court, New York County Docket Number: Index No. 654690/2022 Judge: Andrea Masley Cases posted with a "30000" identifier, i.e., 2013 NY Slip Op 30001(U), are republished from various New York State and local government sources, including the New York State Unified Court System's eCourts Service. This opinion is uncorrected and not selected for official publication. [FILED: NEW YORK COUNTY CLERK 01/13/2025 12:50 P~ INDEX NO. 654690/2022 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/11/2025

SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK: COMMERCIAL DIVISION PART 48 ----------------------------------------------------------------------------------- X

DINO DIXIE, on his own behalf and INDEX NO. 654690/2022 derivatively as a member of NEW AMSTERDAM DISTRIBUTORS, LLC and TERRIODIOL OHIO LLC, MOTION DATE N/A

Plaintiffs, MOTION SEQ. NO. 001

- V - DECISION+ ORDER ON JEFFREY SCHEER and BOND and SCHOENECK & MOTION KING, PLLC,

Defendants 1 .

----------------------------------------------------------------------------------- X

HON. ANDREA MASLEY:

The following e-filed documents, listed by NYSCEF document number (Motion 001) 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20,21, 22,23,24,25,26,27,28,29, 30, 31, 32, 33, 35,36, 37, 38, 39,40, 41,42,44,45,46 were read on this motion to/for DISMISSAL

In motion sequence number 001, defendants Jeffrey Scheer, Esq. and Bond,

Schoeneck & King, PLLC (BSK) move pursuant to CPLR 3211 (a) (1 ), (3), (5), and (7) to

dismiss the complaint.

Background

Unless indicated otherwise, the following facts are taken from the complaint and,

for the purposes of this motion, are accepted as true.

Plaintiff Dino Dixie brings this action individually and derivatively on behalf of

New Amsterdam Distributors, LLC (NAO) and Terriodiol Ohio LLC (TO). Dixie alleges

1 Robert Daina and Acreage Holdings, Inc. (Acreage) were originally named as

defendants. (See NYSCEF 1, Complaint.) Dixie, Daina, and Acreage entered into a settlement agreement and the action was discontinued as to those defendants. (NYSCEF 6, Stipulation of Discontinuance.) 654690/2022 DIXIE, DINO vs. DAINO, ROBERT JET AL Page 1 of 16 Motion No. 001

1 of 16 [* 1] [FILED: NEW YORK COUNTY CLERK 01/13/2025 12: 50 PM] INDEX NO. 654690/2022 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/11/2025

that he was a founding member of NAO, which through NYCI Holding, LLC (NYCI)

owned a 50% interest in nonparty NYCANNA LLC. (NYSCEF 1, Complaint ,m 2, 20, 28.) NAO is the sole shareholder of NYCI. (Id. ,i 28.) Dixie's ownership interest in NAO

is 13%. (Id. ,i 2.)

In May 2015, NAO and nonparty EPMMNY, LLC discussed the formation of a

partnership to jointly pursue a medical cannabis license. 2 (Id. ,i 9.) NAO retained

defendants Sheer and BSK to provide legal services, including the formation of

NYCANNA for the purpose of pursuing the license. (Id. ,i 10.) Upon NYCANNA's

formation, Scheer and BSK "simultaneously became attorneys for NAO, NYCI, and

NYCANNA." (Id.)

On November 20, 2016, Scheer sent NAD's principals notice that NYCANNA

was merging with nonparty NY Medicinal Research and Caring, LLC (NYMRC) to assist

with financing. (Id. ,i 13.) NYMRC was owned by nonparty High Street Capital Partners

(High Street). (Id.) High Street is Acreage's predecessor. 3 This merger allegedly

diluted Dixie's equity interest as it substantially divested NAD's members of their

ownership interests. (Id. ,i 14.) Specifically, Dixie alleges that Scheer and BSK

conspired with the incoming investors, including NYMRC, NYCI, and Acreage, to divest

NAO of its interest in NYCANNA. (Id.)

2 In November 2018, EPMMNY commenced an action against, amongst others, NAO and its members. (EPMMNY LLC v NYCANNA LLC, et al., Index No. 655480/2018 (Masley, J.). In that action, EPMMNY alleges that it has a 25% non-dilutable equity and management right in New York Canna Inc. (restructured as NYCANNA) and the defendants in that action are depriving EPMMNY of that interest. 3 "High Street officially changed its name to Acreage Holdings, Inc. on November

14, 2018." (NYSCEF 1, Complaint ,i 28.) 654690/2022 DIXIE, DINO vs. DAINO, ROBERT JET AL Page 2 of 16 Motion No. 001

2 of 16 [* 2] [FILED: NEW YORK COUNTY CLERK 01/13/2025 12:50 P~ INDEX NO. 654690/2022 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/11/2025

In May 2017, the New York State Department of Health awarded a medical

marijuana license to NY CAN NA. (Id. ,i 16.) Thereafter, Scheer introduced Dixie to

Dai no, who had an existing relationship with Scheer. (Id. ,i 17.) At Scheer's

recommendation, Daina became a member and manager of NAO despite not having

experience in the industry. (Id.) Dixie alleges he was sidelined as Scheer and Dai no

essentially took over NAO. (Id. ,i 19.)

"In May 2018, NYCI sold its fifty percent interest in NYCANNA to High Street."

(Id. ,i 20.) Dixie alleges that Scheer structured the transaction so that High

Street/Acreage acquired all of NYCANNA's equity. (Id.) NAD's officers, including Dixie

were removed as NYCANNA's management, leaving it a mere shell company. (Id.)

This transaction came about after Daina met with representatives from High Street.

After this meeting, Daina informed Dixie "that there was going to be a $2 million cash

call, and that if he did not meet the call by investing the necessary cash, his percentage

ownership in NYCANNA would be reduced." (Id. ,i 22.) Daina then presented an

alternative to the cash call - selling NYCANNA to High Street/Acreage Holdings. (Id. ,i

23.) "Daina said that the transaction needed to be approved by the NYCANNA

shareholders within 8 hours" and represented that the value of the "transaction would be

approximately $40 million based on the stock valuation." (Id.) The consideration for the

sale of NYCl's interest in NYCANNA to High Street/Acreage was cash and stock in

Acreage. (Id. ,i 20 [NYCI sold its in interest "in exchange for cash and class D units of

High Street"].)

Dixie alleges that Scheer violated his fiduciary duty to the NAO members by

falsely advising that the transaction was favorable to NYCANNA, NYCI and NAO, and

654690/2022 DIXIE, DINO vs. DAINO, ROBERT J ET AL Page 3 of 16 Motion No. 001

3 of 16 [* 3] [FILED: NEW YORK COUNTY CLERK 01/13/2025 12:50 P~ INDEX NO. 654690/2022 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/11/2025

immediate approval was necessary, depriving them "of the opportunity to conduct a

proper due diligence investigation of the proposed transaction." (Id. ,I 25.) Dixie and

the other NAO members approved the transaction based upon Daina and Scheer's

representations. (Id.)

On September 25, 2018, High Street/Acreage announced it would go public in

Canada by performing a reverse takeover of a publicly traded entity, nonparty Applied

Inventions Management Corp. (Id. ,I 27.) "As a part of the transaction, a 6-month

lockup period governed High Street/Acreage shares." (Id.) On November 15, 2018,

High Street/Acreage went public, starting the lockup period. (Id. ,I 28.) The lockup

period had three phases, "ending on May 15, 2019, as follows: (a) First 2 months (until

January 15, 2019): all Acreage shares were to be locked up; (b) Next 2 months

(January 15, 2019 to March 14, 2019): 5% of Acreage shares could be transferred; and

(c) Next 2 months (March 15, 2019 to May 14, 2019): Another 15% of Acreage shares

could be transferred." (Id.

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Bluebook (online)
2025 NY Slip Op 30167(U), Counsel Stack Legal Research, https://law.counselstack.com/opinion/dixie-v-scheer-nysupctnewyork-2025.