GMC Semitech Co., Ltd. v. Capital Asset Exchange and Trading, LLC

District Court, N.D. California·Decided April 29, 2025·No. 5:24-cv-09451·Unknown

Opinion

GMC SEMITECH CO., LTD., et al., Case No. 24-cv-09451-NC Plaintiffs, ORDER GRANTING v. DEFENDANT’S MOTION TO DISMISS COMPLAINT TRADING, LLC, Re: Dkt. Nos. 9, 14, 15 Defendant. Plaintiffs GMC Semitech Co., Ltd. and Suzhou Cycas Microelectronics Co., Ltd. bring various contract and tort-based claims against Defendant Capital Asset Exchange and Trading, LLC based on three purchase agreements for equipment Plaintiffs allege they paid for but never received. Defendant moves to dismiss five of Plaintiffs’ eight claims, arguing the non-contractual claims fail because Plaintiffs allege valid and enforceable contracts and fail to allege fraudulent, unlawful, or unfair conduct with particularity. Plaintiffs, in turn, argue they permissibly allege tort claims in the alternative to their contract claims and sufficiently allege unfair business practices and bad faith behavior by Defendant. For the reasons below, the Court GRANTS Defendant’s motion to dismiss the complaint. The Court takes the following facts as true for the purposes of the motion. Plaintiffs refurbishment services for used legacy semiconductor equipment to domestic customers in China.” ECF 1 (Compl.) ¶¶ 3–4. Defendant CAET “is a global physical commodity trader addressing manufacturing needs in the semiconductor market.” Compl. ¶ 5. In February and March 2024, the parties executed three agreements for the sale of equipment from Defendant to Plaintiffs. Compl. ¶¶ 10, 12. The agreements consisted of invoice orders, purchase orders, and payments from Plaintiffs. Compl. ¶ 11. Plaintiffs paid Defendant in full for each purchase agreement. Compl. ¶ 14. Plaintiffs also provided information to Defendant to help establish compliance with export controls so the purchased equipment could be shipped to China. Compl. ¶¶ 16, 17. In May 2024, Defendant notified Plaintiffs that it could not ship the purchased equipment to Plaintiffs in China. Compl. ¶ 17. Plaintiffs have never received the equipment they purchased through the agreements or refunds of their payments. Compl. ¶ 18. Plaintiffs filed suit against Defendant. Compl. Defendant moved to dismiss claims from Plaintiffs’ complaint. ECF 9 (Mot.). Plaintiffs opposed, ECF 14 (Opp’n), and Defendant replied, ECF 15 (Reply). All parties have consented to magistrate judge jurisdiction under 28 U.S.C. § 636(c). ECF 8, 10. A motion to dismiss for failure to state a claim under Rule 12(b)(6) tests the legal sufficiency of a complaint. Navarro v. Block, 250 F.3d 729, 732 (9th Cir. 2001). “To survive a motion to dismiss, a complaint must contain sufficient factual matter, accepted as true, to ‘state a claim to relief that is plausible on its face.’” Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009) (quoting Bell Atl. Corp. v. Twombly, 550 U.S. 544, 570 (2007)). When reviewing a 12(b)(6) motion, a court “must accept as true all factual allegations in the complaint and draw all reasonable inferences in favor of the non-moving party.” Retail Prop. Trust v. United Bd. of Carpenters & Joiners of Am., 768 F.3d 938, 945 (9th Cir. 2014). A court, however, need not accept as true “allegations that are merely conclusory, unwarranted deductions of fact, or unreasonable inferences.” In re Gilead Scis. Secs. the court to draw the reasonable inference that the defendant is liable for the misconduct alleged.” Id. If a court grants a motion to dismiss, leave to amend should be granted unless the pleading could not possibly be cured by the allegation of other facts. Lopez v. Smith, 203 F.3d 1122, 1127 (9th Cir. 2000). Defendant moves to dismiss the following claims from Plaintiffs’ complaint: money had and received (Third Claim); breach of the implied covenant of good faith and fair dealing (Fourth Claim); unjust enrichment (Fifth Claim); conversion (Sixth Claim); and unfair business practices under California’s Unfair Competition Law (UCL) (Seventh Claim). For the reasons below, the Court DISMISSES each of the challenged claims. Where Plaintiffs’ claims may be cured by the allegation of other facts, dismissal is with leave to amend. See Lopez, 203 F.3d at 1227. A. Money Had and Received (Third Claim) The parties agree that a claim for money had and received under California law is a quasi-contract claim and an alternative to claims premised on a valid contract. Mot. 4; Opp’n 5–6; Reply 6. “In an action on an express contract, a claim for money had and received is permitted where there has been a total failure of consideration.” Rutherford Holdings, LLC v. Plaza Del Rey, 223 Cal. App. 4th 221, 230 (Cal. Ct. App. 2014). But a claim for money had and received, as a quasi-contract claim, generally “does not lie when an enforceable, binding agreement exists defining the rights of the parties.” Paracor Fin., Inc. v. Gen. Elec. Cap. Corp., 96 F.3d 1151, 1167 (9th Cir. 1996); Block Sci., Inc. v. True Diagnostics, Inc., No. 21-cv-01118-RBM-JLB, 2023 WL 27348, at *5 (S.D. Cal. Jan. 3, 2023). Defendant concedes in its reply brief that “CAET does not dispute that the parties entered into written contracts that were supported by consideration.” Reply 6. As a result, Plaintiffs’ claim for money had and received fails to state a claim because there is no Cal. App. 4th at 230; Paracor, 96 F.3d at 1167. The Court need not reach the parties’ remaining arguments, and Plaintiffs’ claim for money had and received is DISMISSED without leave to amend. B. Breach of the Implied Covenant of Good Faith and Fair Dealing (Fourth Claim) Defendant argues that Plaintiffs fail to state a claim for breach of the implied covenant of good faith and fair dealing because the claim both “merely restate[s] Plaintiffs’ breach of contract claims” and is premised on obligations that are not found in the agreements. Mot. 5–6. Plaintiffs allege Defendant breached the covenant of good faith by failing to “acquire or make reasonable efforts to acquire and deliver the purchased equipment,” “resolve any export ‘compliance’ concerns,” and “act in good faith to fulfill its obligations under the Agreements.” Compl. ¶ 36. The Court finds that Plaintiffs fail to state a claim for breach of the implied covenant of good faith and fair dealing on these bases. “Under California law, every contract ‘imposes upon each party a duty of good faith and fair dealing in its performance and its enforcement.’” Rosenfeld v. JPMorgan Chase Bank, N.A., 732 F. Supp. 2d 952, 968 (N.D. Cal. 2010) (citation omitted). The covenant of good faith and fair dealing is violated by “a conscious and deliberate act, which unfairly frustrates the agreed common purposes and disappoints the reasonable expectations of the other party thereby depriving that party of the benefits of the agreement.” Careau & Co. v. Sec. Pac. Bus. Credit, Inc., 222 Cal. App. 3d 1371, 1395 (Cal. Ct. App. 1990); see also id. at 1393 (“Or, to put it another way, the ‘implied covenant imposes upon each party the obligation to do everything that the contract presupposes they will do to accomplish its purpose.’”). Although “breach of a specific provision of the contract is not a necessary prerequisite” to state a claim, “the scope of conduct prohibited by the covenant of good faith is circumscribed by the purposes and express terms of the contract.” Carma Devs. implied covenant of good faith and fair dealing ‘cannot impose substantive dutie

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GMC Semitech Co., Ltd. v. Capital Asset Exchange and Trading, LLC, (N.D. Cal. 2025).

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