Hard Yaka LLC and Robert Gregory Kidd v. Hard Yaka Ventures GP, LLC, Kevin Leiske et al.

District Court, D. Nevada·Decided November 13, 2025·No. 2:25-cv-00387·Unknown

Opinion

DISTRICT OF NEVADA Hard Yaka LLC and Robert Gregory Kidd, Case No. 2:25-cv-00387-CDS-DJA

Plaintiffs Order Granting Intervening Defendants’ Motion to Dismiss, Granting Intervening v. Defendants’ Motion for Appropriate Relief, Denying Intervening Defendants’ Motion Hard Yaka Ventures GP, LLC, for a Preliminary Injunction, and Denying Plaintiffs’ Emergency Motion for a Hearing Defendant

[ECF Nos. 48, 50, 100, 110] Kevin Leiske et al., Intervening Defendants Plaintiffs Robert Gregory Kidd and Hard Yaka LLC bring this business litigation action against Hard Yaka Ventures GP and its Managers, intervening defendants Kevin Leiske, Brett Beldner, Margaret Slemmer, and Joseph Christopher Lewis. The intervening defendants filed a motion to dismiss and a motion for appropriate relief. Mot. dismiss, ECF No. 48; Mot. appr. relief, ECF No. 50. They contend that there is not a justiciable controversy between the plaintiffs and the GP, and that the plaintiffs fail to state a claim upon which relief can be granted. ECF No. 48. They also move for preliminary injunction. ECF No. 100. The plaintiffs move, on an emergency basis, for an evidentiary hearing on the intervening defendants’ motion for a preliminary injunction. ECF No. 110. For the reasons stated herein, I grant the intervening defendants’ motion to dismiss, and their motion for appropriate relief. But I deny as moot the intervening defendants’ motion for a preliminary injunction and the plaintiffs’ emergency motion for an evidentiary hearing.

I. Background Hard Yaka LLC is the sole limited partner of and investor in Hard Yaka Ventures LP (the “Fund”). Am. compl., ECF No. 21 at ¶¶ 3, 34.1 Plaintiff Kidd indirectly owns Hard Yaka LLC and, in turn, is the indirect limited partner of and sole investor in the Fund. Id. Hard Yaka Ventures GP is the Fund’s sole general partner. See ECF No. 2 at 100 (sealed). Kidd is the GP’s managing member; the intervening defendants are four of the GP’s five other Managers. Id. 44–45, 48. Together, they share exclusive managerial authority over the Fund. Id. at 100. The parties’ management of the fund is governed by the LP Agreement and the GP Agreement (collectively, the “operating agreements”). See generally GP Agreement, Ex. 1, ECF No. 2 at 44–78 (sealed); LP Agreement, Ex. 2, ECF No. 2 at 83–115 (sealed). However, Kidd’s role as the GP’s “Managing Member” gives him veto power over many of the GP’s actions. See ECF No. 2 at 48, 59 (sealed). Under the GP agreement, a “majority vote” requires consent of the Managing Member and at least two other Managers. Id. at 59. The GP cannot take certain actions absent a majority vote. Id. at 60. Thus, Kidd has veto authority over those actions which demand a majority vote. This voting scheme is largely disputed in the present action. Plaintiffs Kidd and Hard Yaka LLC initiated this Nevada suit against Hard Yaka Venture GP in state court after failing to obtain a majority approval to make a withdrawal from the Fund to support Kidd’s business venture. See Compl., ECF No. 1-2. That business venture is a project to build a new form of dollars known as United States Bank Count (USBC). ECF No. 21 at ¶ 1. After the plaintiffs filed this suit, the intervening defendants initiated arbitration against Kidd pursuant to the operating agreements’ arbitration clauses. See ECF No. 2 at 76 (LP arbitration clause); Id. at 113–14 (GP arbitration clause). They have since agreed to stay arbitration and pursue their claims against Kidd in this action instead. ECF No. 48 at 4.

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Hard Yaka LLC and Robert Gregory Kidd v. Hard Yaka Ventures GP, LLC, Kevin Leiske et al., (D. Nev. 2025).

Hard Yaka LLC and Robert Gregory Kidd v. Hard Yaka Ventures GP, LLC, Kevin Leiske et al. (Hard Yaka LLC and Robert Gregory Kidd v. Hard Yaka Ventures GP, LLC, Kevin Leiske et al.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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