Gingold v. Itronics, Inc.

District Court, D. Nevada·Decided April 20, 2020·No. 3:19-cv-00532·Unknown

Opinion

3 UNITED STATES DISTRICT COURT

4 DISTRICT OF NEVADA

5 * * *

6 HARRY GINGOLD, et al., Case No. 3:19-cv-00532-MMD-CLB

7 Plaintiffs, ORDER v. 8 ITRONICS, INC., et al., 9 Defendants. 10 11 I. SUMMARY 12 Plaintiffs1 are investors who bring this action pro se against Itronics, Inc. (“Itronics”) 13 and its principal and agent, John W. Whitney (“Whitney”)2 (collectively, “Defendants”). 14 (ECF No. 1 at 2-4, 6.) Before the Court are Itronics’3 motion to dismiss (the “MTD”) (ECF 15 No. 7) and Plaintiff Harry Gingold’s motion for leave to amend the Complaint (the “MTA”) 16 (ECF No. 17). For the reasons explained below, the Court will deny the MTD and grant 17 the MTA.4 18 /// 19 /// 20

1Plaintiffs are Harry Gingold (“Harry”), Monique Gingold (“Monique”) and Nahal 21 Kedumim, LLC (the “LLC”). (ECF No. 1 at 2.) Plaintiffs are proceeding pro se and Harry has apparently been representing Monique and the LLC. Accordingly, United States 22 Magistrate Judge Carla L. Baldwin has advised Harry that he can represent himself in this case, but not Monique or the LLC. (ECF No. 22 at 2.) 23

2Whitney is a promoter, broker-dealer, president, treasurer, director, principal, 24 executive, and financial officer of Itronics. (ECF No. 1 at 2, 6.) 25 3Itronics was the only party identified as the moving party in the MTD (ECF No. 7 26 at 1) and as the responding party in the response to the MTA (ECF No. 19 at 1). It is not clear whether Whitney may have been inadvertently omitted from these filings. 27 4The Court has also reviewed the briefs relating to the MTD and MTA. (ECF Nos. 28 12, 13, 14, 15, 19, 20.) Because Itronics only served Harry the MTD (ECF No. 7 at 5), the other Plaintiffs were not required to respond to the MTD. 2 The following facts are alleged in the Complaint (ECF No. 1), unless otherwise 3 indicated. 4 On February 23, 2010, Plaintiffs each signed a Subscription Agreement to buy a 5 convertible promissory note (“Notes”) from Itronics. (Id. at 3-4.) On March 9, 2010, 6 Defendants executed the Notes. (Id.) Harry and Monique each paid $5,000 for their Notes, 7 and the LLC paid $20,000. (Id. at 4.) Itronics promised to pay all Notes—both the principal 8 and accrued interest at an annual compounded rate of 10%—by March 9, 2015. (Id.) But 9 Itronics failed to do so. (Id.) In the event that Itronics cannot pay the Notes in full by the 10 deadline, Plaintiffs have a right to convert the principal and all accrued interest into Itronics 11 common shares at $.002 per share (the “Stock Options”). (Id.) Itronics failed to pay the 12 Notes in full and failed to issue Shares. (Id.) On June 28, 2010, Defendants carried out a 13 reverse split to Itronics stock at a ratio of 1000 to 1, plunging the value of the Stock Options 14 in excess of $75,000. (Id.) 15 On August 26, 2019, Plaintiffs filed this action asserting a claim against Whitney for 16 violation of NRS § 90.310 and claims against both Defendants for breach of contract, 17 fiduciary duty and the implied covenant of good faith and fair dealing. (Id. at 4-6.) Plaintiffs 18 also allege that Itronics is an alter ego of Whitney. (Id. at 5-6.) 19 III. MOTION TO DISMISS 20 The MTD challenges this Court’s subject matter jurisdiction, contending that the 21 amount in controversy is not satisfied. (ECF No. 7 at 1.) 22 “A federal court has jurisdiction over the underlying dispute if the suit is between 23 citizens of different states, and the amount in controversy exceeds $75,000 exclusive of 24 interest and costs (i.e., diversity jurisdiction).” Geographic Expeditions, Inc. v. Estate of 25 Lhotka ex rel. Lhotka, 599 F.3d 1102, 1106 (9th Cir. 2010) (footnote omitted) (citing 28 26 U.S.C. § 1332(a)). When a plaintiff “originally files in federal court, the amount in 27 controversy alleged by the plaintiff controls as long as the claim is made in good faith. Id. 28 (citing Crum v. Circus Enters., 231 F.3d 1129, 1131 (9th Cir. 2000)). “To justify dismissal, 2 amount.” Id. (quoting Crum, 231 F.3d at 1131). “This is called the ‘legal certainty’ standard, 3 which means a federal court has subject matter jurisdiction unless ‘upon the face of the 4 complaint, it is obvious that the suit cannot involve the necessary amount.’” Id. (quoting 5 St. Paul Mercury Indemnity Co. v. Red Cab Co., 303 U.S. 283, 292 (1938)). The Ninth 6 Circuit has said that the legal certainty standard is met in only three situations: 7 1) when the terms of a contract limit the plaintiff’s possible recovery; 2) when a specific rule of law or measure of damages limits the amount of damages 8 recoverable; and 3) when independent facts show that the amount of damages was claimed merely to obtain federal court jurisdiction. 9

10 Pachinger v. MGM Grand Hotel-Las Vegas, Inc., 802 F.2d 362, 364 (9th Cir. 1986). 11 Plaintiffs repeatedly allege that the amount in controversy exceeds $75,000. (ECF 12 No. 1 at 3-6.) This allegation is sufficient because Itronics has not shown that Plaintiffs’ 13 allegations were made in bad faith and because Plaintiffs “need not itemize or show how 14 [it] arrived at the amounts of damages claimed.” K. Durant Enterprises, LLC v. Swanson 15 Travel Professionals, Inc., Case No. CV 13-01534 MMM AJWX, 2014 WL 545843, at *2 16 (C.D. Cal. Feb. 10, 2014); see also Leitner v. Sadhana Temple of New York Inc., Case 17 No. CV 13-07902 MMM (EX), 2013 WL 12149236, at *2 (C.D. Cal. Dec. 16, 2013) (holding 18 that plaintiff’s allegation that the amount in controversy “is in excess of the sum of $75,000, 19 exclusive of interests and costs” was sufficient) (internal quotes and citations omitted). 20 Itronics argues it is a legal certainty that the jurisdictional minimum is not met here. 21 (ECF No. 7 at 3; ECF No. 13 at 4-5.) But Itronics relies on materials beyond the Complaint, 22 Subscription Agreements, and Notes. (See ECF No. 7-5 (table summarizing total principal 23 and interest owed on the Notes); ECF Nos. 13-1 (defense counsel’s affidavit), 13-6 (tables 24 calculating total principal and interest owed on the Notes), 13-7 (emails between Itronics 25 and Harry).) As a general rule, the Court may not consider such materials on a motion to 26 dismiss, subject to three exceptions that neither apply here nor Itronics has argued for 27 /// 28 /// 2 curiam) (The court will “consider only allegations contained in the pleadings, exhibits 3 attached to the complaint, and matters properly subject to judicial notice.”). To consider 4 these extrinsic materials, the Court must convert the MTD into a motion for summary 5 judgment. See Lee v. City of Los Angeles, 250 F.3d 668, 688 (9th Cir. 2001). But the Court 6 declines to do that here. “[D]iscovery has not commenced in this action [and] the parties 7 have not had an opportunity to prepare the documents and arguments necessary for a 8 complete motion for summary judgment and opposition thereto.” Doe v. Roe, No. 2:12-cv- 9 1644-MMD, 2013 WL 1787175, at *4 (D. Nev. Apr. 25, 2013). 10 The Court finds Plaintiffs have alleged sufficient facts to satisfy the amount in 11 controversy.6 Itronics’ MTD is denied. 12 IV. MOTION TO AMEND 13

Gingold v. Itronics, Inc., (D. Nev. 2020).

Gingold v. Itronics, Inc. (Gingold v. Itronics, Inc.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related