Goldstein v. SF Holding Company CA2/4

CourtCalifornia Court of Appeal
DecidedNovember 6, 2024
DocketB332493
StatusUnpublished

This text of Goldstein v. SF Holding Company CA2/4 (Goldstein v. SF Holding Company CA2/4) is published on Counsel Stack Legal Research, covering California Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Goldstein v. SF Holding Company CA2/4, (Cal. Ct. App. 2024).

Opinion

Filed 11/6/24 Goldstein v. SF Holding Company CA2/4 NOT TO BE PUBLISHED IN THE OFFICIAL REPORTS

California Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). This opinion has not been certified for publication or ordered published for purposes of rule 8.1115.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION FOUR

GERALD GOLDSTEIN, B332493

Cross-complainant and (Los Angeles County Appellant, Super. Ct. No. 20SMCV01963)

v.

SF HOLDING COMPANY LLC, ET AL.,

Cross-defendants and Respondents.

APPEAL from a judgment of the Superior Court of Los Angeles County, Lisa K. Sepe-Wiesenfeld, Judge. Affirmed. Murphy, Pearson, Bradley & Feeney and Nicholas C. Larson, for Cross-Complainant and Appellant. Conkle, Kremer & Engel, Mark D. Kremer, and Evan Pitchford, for Cross-Defendants and Respondents. Appellant Gerald Goldstein (Goldstein) appeals from a judgment of dismissal sustaining the demurrer of respondents SF Holding Company LLC (SF Holding) and Allen Stephenson (Stephenson) (collectively, respondents) to Goldstein’s third amended cross-complaint (TACC) without leave to amend. The trial court concluded Goldstein’s causes of action were time- barred. Goldstein contends that because the delayed discovery rule or equitable tolling applies, his claims are timely. He also contends the court abused its discretion in denying him leave to amend the complaint a fourth time. We affirm.

BACKGROUND A. Procedural Background SF Holding filed a complaint against Goldstein in December 2020. SF Holding asserted that on August 31, 2015, Goldstein and certain related business entities executed a promissory note in favor of SF Holding in the amount of $1,247,553.55, which was due and payable on June 30, 2016. The 2015 note was secured by a Pledge and Security Agreement. SF Holding alleged Goldstein and the business entities breached the promissory note and security agreement by failing to make required payments. Goldstein filed his initial cross-complaint against respondents on January 21, 2021. After respondents demurred, Goldstein filed a first amended cross-complaint in December 2021. Respondents then demurred to the first amended cross- complaint. The trial court sustained the demurrer in its entirety with leave to amend.

2 Goldstein filed his second amended cross-complaint in September 2022. Pursuant to stipulation, Goldstein filed the operative TACC in May 2023.

B. Factual Allegations of the TACC The TACC made the following allegations. Goldstein was a music producer, singer-songwriter, and talent manager. In 2006, Goldstein and Stephenson each owned condominiums in the Wailea Beach Villas (WBV) development in Maui, Hawaii. Goldstein and Stephenson met at a party for homeowners, where they discussed a movie project on which Goldstein was working. The movie was about a 1969 Jimi Hendrix concert. Following this meeting, Stephenson began developing a “complex and fraudulent scheme to bilk [Goldstein] out of millions of dollars as well as [Goldstein’s] interest in . . . a variety of intellectual property rights, as well as real property rights, including but not limited to music royalties, exclusive movie production rights, along with rights to [Goldstein’s] WBV condominiums.” Stephenson put his scheme into action in June 2007, when he arranged to make a $500,000 loan through his general partnership, SF Holding’s predecessor, to Goldstein. In June 2007, Goldstein executed a promissory note, which he claims was never fully funded. Between June and November 2007, Stephenson and his agents “repeatedly and continually coerce[d Goldstein] into hiring [c]ross-[d]efendant Stephenson as a business manager.” In November 2007, the parties executed a business management agreement. In 2008, Stephenson coerced Goldstein “into executing additional fraudulent agreements by way of undue influence and

3 abuse.” In December 2008, Goldstein entered into another promissory note with SF Holding’s predecessor. Also in December 2008, Goldstein executed an amendment to the 2007 business management agreement that allegedly misrepresented that Goldstein still owed money under the June 2007 promissory note. Goldstein claimed he was coerced into executing the amendment to the business management agreement without the opportunity to consult counsel. The business management agreement expired in 2009. In July 2012, Goldstein entered into a “Restated and Amended Security Promissory Note” with SF Holding. Goldstein claimed respondents threatened to destroy his business opportunities and relationships unless he executed this amended promissory note. The note “expand[ed] [respondents’] fraudulent scheme by requiring [Goldstein to] assign his rights to bi-annual royalty payments to the international hit songs ‘My Boyfriend’s Back’ and ‘I want Candy.’” On the same day, respondents allegedly coerced Goldstein into executing a “Pledge and Security Agreement.” The 2012 security agreement continued respondents’ “pattern and practice of failing to provide an accounting, misstating accounts, and perpetuating fraud.” In March 2013, respondents “again coerced [Goldstein] by threat of financial ruin” into executing another promissory note. Goldstein was also coerced into executing a “First Amendment to Pledge and Security Agreement.” Thereafter, on August 31, 2015, respondents “forced” Goldstein, “by yet additional threats of destruction of [Goldstein’s] business opportunities and relationships,” into executing the 2015 promissory note. The 2015 promissory note provided it replaced the 2013 promissory note and included the

4 balance from the 2012 promissory note. Goldstein asserted the 2015 promissory note continued respondents’ “pattern and practice of intimidation, deception, and misrepresentation” because the principal balance failed to account for payments made by Goldstein. Respondents, “by virtue of coercion and threat,” also forced Goldstein to execute a “Second Amendment to Pledge and Security Agreement” on the same day. Also on August 31, 2015, respondents “continued the campaign of financial abuse and fraud by using coercion to obtain, under duress, [Goldstein’s] agreement to pay $500,000 in exchange for [respondents’] agreement to assign back the royalties to the [s]ongs.” However, SF Holding did not terminate a lien it had placed on the royalties. In June 2018, SF Holding filed a notice with the California Secretary of State’s Office continuing the lien. In early 2022, Goldstein was trying to secure financing for “certain real property holdings” with royalties from the songs as collateral. Goldstein said he was initially provided with terms that were “acceptable and reasonable,” but after the lender discovered that SF Holding failed to terminate its lien on the songs, the financing terms were “drastically changed and were no longer reasonable or acceptable.” Goldstein claimed this was the first time he learned the lien on the songs had not been terminated. SF Holding filed a notice with the Secretary of State in November 2022, deleting the songs from the collateral listed on its lien. Goldstein claims Stephenson continued to perpetrate his “scheme” in June and November 2020 by calling Goldstein and threatening to seize all of his interests in various music royalties and obstruct business transactions until he paid all amounts owed under the 2015 promissory note. Goldstein asserted he

5 demanded accountings in the past, including during a phone call in November 2020, but no accounting was provided. The TACC also made allegations concerning Goldstein’s condominiums in Hawaii.

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Goldstein v. SF Holding Company CA2/4, Counsel Stack Legal Research, https://law.counselstack.com/opinion/goldstein-v-sf-holding-company-ca24-calctapp-2024.