Herold v. Venetis

2023 Ohio 3829, 226 N.E.3d 1092
CourtOhio Court of Appeals
DecidedOctober 23, 2023
DocketCA2022-05-049
StatusPublished
Cited by4 cases

This text of 2023 Ohio 3829 (Herold v. Venetis) is published on Counsel Stack Legal Research, covering Ohio Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Herold v. Venetis, 2023 Ohio 3829, 226 N.E.3d 1092 (Ohio Ct. App. 2023).

Opinion

[Cite as Herold v. Venetis, 2023-Ohio-3829.]

IN THE COURT OF APPEALS

TWELFTH APPELLATE DISTRICT OF OHIO

BUTLER COUNTY

FLINT HEROLD, :

Appellant, : CASE NO. CA2022-05-049

: OPINION - vs - 10/23/2023 :

DEMETRIOS VENETIS, et al., :

Appellees. :

CIVIL APPEAL FROM BUTLER COUNTY COURT OF COMMON PLEAS Case No. CV 2021 09 1306

Lindhorst & Dreidame Co., LPA, and Matthew C. Curran and Elizabeth M. Johnson, for appellant.

Kohl & Cook Law Firm, LLC, and Timothy J. Cook, Brian Brown, and Sean M. Kohl, for appellees.

BYRNE, J.

{¶ 1} Appellant, Flint Herold, appeals the order of the Butler County Court of

Common Pleas granting the motion to dismiss filed by appellees, Demetrios Venetis, Jeffrey

Struck, and Triseptagon, LLC, f.k.a. Alpha Builders, d.b.a. Sterling Architectural Millwork

("TRISEP"). For the reasons discussed below, we affirm the trial court's decision. Butler CA2022-05-049

I. Factual and Procedural Background

{¶ 2} This case involves claims by Herold that he was deprived of management

fees by TRISEP, a limited liability company in which he, Venetis, and Struck were investors.

Herold also claims that Venetis and Struck deprived him of the right to participate in other

business opportunities. Herold filed his complaint concerning this dispute in the Butler

County Common Pleas Court in September 2021.

A. The Complaint

{¶ 3} In the complaint, Herold stated that he was a Butler County, Ohio resident,

Venetis was a Massachusetts resident, Struck was a Florida resident, and TRISEP was a

Florida company with its principal place of business in Massachusetts. Herold alleged that

Butler County, Ohio was a proper venue pursuant to Civ.R. 3(B)(3) and (5), because "the

business transaction and activity giving rise to the claims for relief occurred in Butler County,

Ohio, and the damages occurred in Butler County."

{¶ 4} Herold's complaint alleged the following facts. In 2016, he, Venetis, and

Struck began working together to identify businesses for investment. In November 2017,

he and Venetis identified Alpha Builders, d.b.a. Sterling Architectural Millwork ("Sterling")

as a target business.

{¶ 5} After deciding to acquire Sterling, Herold and Venetis "brought on" Struck as

an additional investor. In October 2018, the trio sent a letter of intent ("Letter of Intent") to

purchase Sterling to the owner of Sterling.

{¶ 6} The parties finalized the acquisition of Sterling in March 2019 and entered into

a stock purchase agreement ("Stock Purchase Agreement"). Herold alleged that pursuant

to the Stock Purchase Agreement, Struck and Venetis each acquired a 27.085% share of

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TRISEP (the holding company that would own Sterling), and Herold acquired a 25% share.1

Other investors owned options on the remaining shares.

{¶ 7} Afterwards, TRISEP agreed to a "management services agreement" with

Herold in which it would pay Herold a monthly fee for "services" provided to TRISEP. 2

TRISEP paid Herold management service fees from November 2019 until June 2020. Then

TRISEP stopped making fee payments, despite Herold's continued services.

{¶ 8} Herold also alleged that Struck had used a loan from TRISEP to acquire

"Craftwork," a new business that Herold, Venetis, and Struck had all been "looking at

working on together" but that Venetis and Struck had not included Herold in this business

deal. Herold claimed that he was "impermissibly excluded" from this deal because "one of

the benefits of ownership in [TRISEP] was that [TRISEP] would be used to acquire other

companies * * *."

{¶ 9} In count one, breach of contract, Herold asserted that he had an agreement

with Venetis and Struck "to be given opportunities to be involved in future business and

investment deals" and that the Defendants had violated this agreement by "among other

things, failing to acknowledge, recognize, and/or compensate [Herold] for his interest in

[TRISEP] and failing to include [Herold] in future business deals."

{¶ 10} In count two, breach of contract, the complaint asserted that TRISEP had

breached the management services agreement by failing to pay Herold for various services

he provided to the company. These services included "marketing and logo design,

1. Herold states in the complaint that he owned twenty-five percent of TRISEP "per" the Stock Purchase Agreement. However, that document lists him as a "(25%) Option Holder." In their answer to the complaint, the Defendants state that Herold's involvement with the Defendants was limited to a "stock purchase that never closed" and that Venetis and Struck purchased Sterling in a separate transaction "that could not have closed if [Herold] was involved." Regardless, this issue has no bearing on the outcome of this case and we merely note it here.

2. Herold did not describe the "services" he would be providing under this agreement. He also did not attach a written copy of the management services agreement or clarify whether the agreement was in writing.

-3- Butler CA2022-05-049

developing a sales procedure, assisting with trade shows, budgeting and financial

decisions, developing a web page and Facebook page, personnel decisions, and investor

presentations and communications * * *."

{¶ 11} In count three, breach of fiduciary duty, the complaint asserted that Venetis

and Struck breached a fiduciary duty owed to Herold based on their "cutting [Herold] out of

the business" and "leveraging [TRISEP] resources for their personal benefit."

{¶ 12} In count four, unjust enrichment, Herold alleged that Venetis and Struck were

unjustly enriched based on Herold providing "hundreds of hours of services" to TRISEP

"without compensating [Herold.]"

{¶ 13} In count five, fraudulent inducement, Herold claimed that Venetis and Struck

had falsely represented that they would "include him in the benefits of [TRISEP] and other

business opportunities" and that these representation were "made multiple times in 2016,

2017, and 2018 in person and over the phone to [Herold]."

{¶ 14} In count six, Herold asked for a declaratory judgment that he has "an equitable

interest in and is a part owner of both [TRISEP] and Craftwork."

{¶ 15} Herold attached to the complaint the Letter of Intent to purchase Sterling as

well as the Stock Purchase Agreement for TRISEP.

B. The Defendants' Motion to Dismiss and Affidavits

{¶ 16} Venetis, Struck, and TRISEP (collectively, "the Defendants") then filed a

motion to dismiss pursuant to Civ.R. 12(B)(2) and (3), arguing that the Butler County Court

of Common Pleas lacked personal jurisdiction over them because they were not residents

of Ohio, and had no connection to Ohio, and because the complaint did not specify what

alleged transactions occurred in Ohio. The Defendants further argued that venue was not

proper in Butler County due to a forum-selection clause in the Letter of Intent specifying

Massachusetts as the forum state and a Florida choice of law provision in the Stock

-4- Butler CA2022-05-049

Purchase Agreement.

C. Struck and Venetis Affidavits

{¶ 17} Regarding the issue of personal jurisdiction, Venetis and Struck each filed

their own affidavit in support of the motion to dismiss. In Struck's affidavit, he stated that

he was a Florida resident.

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Bluebook (online)
2023 Ohio 3829, 226 N.E.3d 1092, Counsel Stack Legal Research, https://law.counselstack.com/opinion/herold-v-venetis-ohioctapp-2023.