Local Social, Inc. v. Stallings

2019 NCBC 8
CourtNorth Carolina Business Court
DecidedJanuary 30, 2019
Docket17-CVS-1889
StatusPublished

This text of 2019 NCBC 8 (Local Social, Inc. v. Stallings) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Local Social, Inc. v. Stallings, 2019 NCBC 8 (N.C. Super. Ct. 2019).

Opinion

Local Social, Inc. v. Stallings, 2019 NCBC 8.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION WAKE COUNTY 17 CVS 1889

LOCAL SOCIAL, INC. and LYNELL I. EADDY, ORDER AND OPINION ON Plaintiffs, PLAINTIFF LOCAL SOCIAL, INC.’S MOTION TO DISMISS DEFENDANT’S v. MOTION TO ENFORCE MEDIATED SETTLEMENT AGREEMENT SEAN STALLINGS, UNDER RULE 12(b)(1) Defendant.

1. THIS MATTER is before the Court on Plaintiff Local Social, Inc.’s (“Local

Social”) Motion to Dismiss Defendant’s Motion to Enforce Mediated Settlement

Agreement Under Rule 12(b)(1) (the “Motion”). (ECF No. 54 [“Mot.”].) For the

reasons set forth below, the Court GRANTS the Motion.

Ward and Smith, P.A., by Gary J. Rickner and Marla S. Bowman, for Plaintiff Local Social, Inc.

Adams, Howell, Sizemore & Lenfestey, P.A., by Ryan J. Adams, for Defendant.

Robinson, Judge.

I. PROCEDURAL AND FACTUAL BACKGROUND

2. The procedural and factual background of this matter is set out more fully

in Local Social, Inc. v. Stallings, 2018 NCBC LEXIS 43 (N.C. Super. Ct. May 9, 2018)

and Local Social, Inc. v. Stallings, 2017 NCBC LEXIS 94 (N.C. Super. Ct. Oct. 9,

2017). The Court recites here only those facts relevant and necessary for its

determination of the Motion. 3. This litigation arises out of several disputes between Plaintiff Lynell I.

Eaddy (“Eaddy” and, together with Local Social, “Plaintiffs”) and Defendant Sean

Stallings (“Stallings”). In 2014, Eaddy sold half her interest in Local Social to

Stallings. At some point after Stallings became a shareholder, the relationship

between Eaddy and Stallings deteriorated. Plaintiffs allege that Stallings engaged

in an array of misconduct—including using Local Social’s credit card for personal

expenses totaling approximately $146,736 (the “Disputed Expenses”)—which led

Plaintiffs to remove Stallings as president, terminate his employment, and initiate

this litigation on February 16, 2017 seeking monetary and equitable relief on claims

for breach of fiduciary duty and constructive fraud, conversion and misappropriation,

constructive trust, accounting, computer trespass, unfair and deceptive trade

practices, punitive damages, enforcement of a promissory note, judicial enforcement

of a security interest, and two claims for breach of contract. (Verified Compl. 12−17,

19−21, ECF No. 1.) In response, Stallings asserted counterclaims for violation of the

North Carolina Wage and Hour Act, conversion, and three claims for breach of

contract. (Answer & Countercls. 16–19, ECF No. 8.)

4. This action was designated as a mandatory complex business case by order

of the Chief Justice of the Supreme Court of North Carolina dated February 16, 2017,

(ECF No. 3), and assigned to the undersigned by order of the Chief Business Court

Judge dated February 17, 2017, (ECF No. 4).

5. The parties participated in a mediated settlement conference on December

18, 2017, at which they executed a Memorandum of Settlement (the “Memorandum”) reflecting their agreement to resolve this litigation. (Second Aff. Sean Stallings Ex.

A, ¶ 6, ECF No. 41 [“Stallings Aff.”].)

6. The Memorandum provides that Plaintiffs shall pay Stallings: “(i)

$90,000.00 cash within 60 days of this [Memorandum] plus (ii) $27,500.00 each year

on the anniversary of this [Memorandum] each year [sic] for 4 years (no interest)[,]”

(Stallings Aff. Ex. A, ¶¶ 2−3(a)), with the $27,500 payments to be secured by a

confession of judgment in the total amount of $110,000 in favor of Stallings against

Plaintiffs, (Stallings Aff. Ex. A, ¶ 3(b)). The fully executed confession of judgment is

to be delivered to, and held by, Stallings’s attorney pending Plaintiffs’ compliance

with their obligation to pay $27,500 each year for four years. (Stallings Aff. Ex. A,

¶ 3(b)(i).)

7. Paragraph 3(d) of the Memorandum obligates the parties to file a mutual

stipulation of dismissal with prejudice of all claims in this action. (Stallings Aff. Ex.

A, ¶ 3(d).) Pursuant to paragraph 3(e), the confession of judgment, settlement

agreement, and stipulation of dismissal “shall be delivered to the respective parties

when the $90,000.00 payment is timely made[.]” (Stallings Aff. Ex. A, ¶ 3(e).)

Pursuant to paragraph 3(c) of the Memorandum, the parties executed a Settlement

Agreement and Mutual Release (the “Settlement Agreement”), in which Plaintiffs

and Stallings, among other things, agreed to release all claims between them.

(Stallings Aff. ¶ 13, Ex. A, ¶ 3(c); Br. Opp’n to Def.’s Mot. to Enforce Settlement Agr.

Ex. 1, ¶ 14, ECF No. 43.1 [“Eaddy Aff.”]; see Stallings Aff. Ex. B [“Settlement

Agreement”].) 8. The source of the parties’ current dispute lies in paragraph 3(f) of the

Memorandum, which states that Plaintiffs

agree[] to work in good faith with Local Social, Inc.’s accounting firm to recharacterize [sic] the item marked “loan to [Stallings]” on the 2016 Local Social, Inc. balance sheet: (i) as an uncollectible debt on the 2017 taxes, (ii) as business expenses for the year 2016, requiring an amendment of the 2016 tax returns of Local Social, Inc., or (iii) some combination of the above, in increments recommended by Local Social, Inc.’s accountant.

(Stallings Aff. Ex. A, ¶ 3(f); see also Settlement Agreement ¶ 17 (incorporating

paragraph 3(f) of the Memorandum).)

9. Initially, Local Social’s accountants recommended that all but $18,212.54

of the Disputed Expenses should be re-characterized as business expenses for the

year 2016 and that Local Social’s 2016 tax return should be amended to reflect the

same. (Stallings Aff. ¶ 9.) Stallings, however, did not agree with this proposal as he

believes that all of the Disputed Expenses are deductible business expenses.

(Stallings Aff. ¶ 9.) Thereafter, on February 11, 2018, Local Social’s counsel e-mailed

Stallings’s counsel with an alternative plan according to which Local Social would

deduct approximately $43,671.03 of the Disputed Expenses on its 2017 tax return.

(Stallings Aff. ¶ 10.) Again, Stallings did not agree with the proposal. (Stallings Aff.

¶ 10.)

10. Eventually, Local Social’s counsel contacted Lori Aveni (“Aveni”), a certified

public accountant who provides bookkeeping services for Local Social, for her

professional opinion on reclassifying the Disputed Expenses. (Br. Opp’n to Def.’s Mot.

to Enforce Settlement Agr. Ex. 2, ¶ 6, ECF No. 43.2 [“Aveni Aff.”]; Eaddy Aff. ¶ 12.) Aveni advised counsel and the parties that the Disputed Expenses should not be

reclassified as an uncollectible debt on Local Social’s 2017 tax return due to IRS

regulations requiring that a debt be “bona fide” in order to qualify for bad-debt

deduction. (See Aveni Aff. ¶ 7(d).) Aveni further advised the Disputed Expenses

could not be reclassified as business expenses for the year 2016 because, absent actual

receipts documenting the expenses, Local Social’s 2016 tax return would face the risk

of an IRS audit. (See Aveni Aff. ¶ 7(a)–(b); Eaddy Aff. ¶¶ 13–14.)

11. Stallings filed the Motion to Enforce Mediated Settlement Agreement (the

“Motion to Enforce”) on February 28, 2018. (ECF No. 40 [“Mot. to Enforce”].) The

Court held a hearing on the Motion to Enforce on April 26, 2018 and issued an Order

and Opinion denying the Motion to Enforce on May 9, 2018. Local Social, 2018 NCBC

LEXIS 43, at *14.

12. The Court noted in its May 9, 2018 Order and Opinion that the parties

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2019 NCBC 8, Counsel Stack Legal Research, https://law.counselstack.com/opinion/local-social-inc-v-stallings-ncbizct-2019.