Loyd v. Griffin

2021 NCBC 77
Procedural entryThis page is a short order in Loyd v. Griffin. Read the opinion of the Court — 2021 NCBC 51
North Carolina Business Court·Decided December 10, 2021·No. 20-CVS-2394·Published

Opinion

Loyd v. Griffin, 2021 NCBC 77.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION IREDELL COUNTY 20 CVS 2394

ASHTON K. LOYD,

Plaintiff,

v. ORDER AND OPINION ON JAMES MICHAEL GRIFFIN and DEFENDANTS’ MOTION TO DISMISS GRIFFIN INSURANCE AGENCY, AND MOTION TO STRIKE INC.,

Defendants.

1. THIS MATTER is before the Court on Defendants’ James Michael Griffin

and Griffin Insurance Agency, Inc. Motion to Dismiss Plaintiff’s Amended Complaint

(the “Motion to Dismiss”), (ECF No. 36), and Defendants James Michael Griffin’s and

Griffin Insurance Agency, Inc.’s Motion to Strike (the “Motion to Strike”), (ECF No.

38), (the Motion to Dismiss and Motion to Strike are collectively referred to as the

“Motions”).

2. For the reasons set forth herein, the Court hereby GRANTS IN PART and

DENIES IN PART the Motion to Dismiss 1 and DENIES the Motion to Strike.

Levine Law Group, P.A. by Michael J. Levine and Cathy A. Williams, Austin Law Firm, PLLC by John S. Austin, and Mauney, PLLC by Gary V. Mauney for Plaintiff Ashton K. Loyd. 2

1 The Court notes that presently pending before the Court, but not fully briefed, is Plaintiff’s

Motion for Leave to File Second Amended Complaint. (ECF No. 71.) The Court, in its discretion, rules on the current Motions, which are fully briefed and for which oral argument has been conducted.

2 John S. Austin of Austin Law Firm, PLLC, and Gary V. Mauney of Mauney, PLLC, entered

appearances on behalf of Ashton K. Loyd (“Loyd”) on 5 August 2021. (ECF Nos. 67–68.) Mr. Austin and Mr. Mauney did not represent Loyd at the time of the hearing held on the Motions. (See ECF No. 51.) Bennett & Guthrie, PLLC by Joshua H. Bennett and Mitchell Hendrix Blankenship for Defendants James Michael Griffin and Griffin Insurance Agency, Inc.

Robinson, Judge.

I. INTRODUCTION

3. Defendants James Michael Griffin (“Griffin”) and Griffin Insurance Agency,

Inc. (“GIA”) (Griffin and GIA are collectively referred to as the “Defendants”) move to

dismiss the following claims for relief from Loyd’s First Amended Complaint (the

“Amended Complaint”) (ECF No. 29 [“Am. Compl.”]): (1) Count II—Tortious

Interference with Plaintiff’s Business; (2) Count III—Recission; (3) Count IV—Unjust

Enrichment; and Count VI—Punitive Damages. (Defs.’ Mot. Dismiss Pl.’s Am.

Compl., ECF No. 36 [“Mot. Dismiss”].) Additionally, Defendants move to strike the

last sentence of Paragraph 11 of the Amended Complaint on the basis that it alleges

matters that are irrelevant, immaterial, impertinent, and scandalous. (Defs.’ Mot.

Strike, ECF No. 38 [“Mot. Strike”].)

II. FACTUAL BACKGROUND

4. The Court does not make findings of fact on a Rule 12(b)(6) motion to

dismiss. Instead, the Court only recites the factual allegations, taken from Loyd’s

Amended Complaint, that are relevant to the Court’s determination of the Motion to

Dismiss. 3

3 The Court in deciding the Motion to Dismiss will consider only such matters as are raised

in the Amended Complaint filed in this case, per Rule 12(b)(6). Anything referenced in briefing by the parties, in oral argument at the hearing on the Motions, or that was otherwise not contained in the current complaint on record in this matter or relevant legal precedent was not considered in the issuance of this Order and Opinion. A. The Parties

5. Loyd is a resident of Iredell County, North Carolina. (Am. Compl. ¶ 1.) At

all relevant times, Loyd was an officer and the Vice President of GIA. (Am. Compl. ¶

1.)

6. Griffin is a resident of Mecklenburg County, North Carolina. (Am. Compl.

¶ 2.) At all relevant times, Griffin was the President of GIA. (Am. Compl. ¶ 2.)

7. GIA is a North Carolina corporation with a principal office located in Iredell

County, North Carolina. (Am. Compl. ¶ 3.)

B. Loyd’s Employment with GIA

8. Around 2004 Loyd began selling property and casualty policies for

Nationwide Mutual Insurance Company (“Nationwide”) on behalf of Defendants.

(Am. Compl. ¶ 8.) At the start of his employment relationship with GIA, Loyd asserts

Griffin intended to have Loyd “take over the business someday.” (Am. Compl. ¶ 8.)

9. “[A]t the direction of Defendant Griffin and his certified public accountant,”

Loyd created Loyd Insurance Agency in early 2010. (Am. Compl. ¶ 12.) Around that

same time, Loyd and Defendants also agreed to a Revenue Purchase Agreement and

Asset Purchase Agreement (the “Revenue Purchase Agreement”). (Am. Compl. ¶ 13.)

“Under the terms of the Revenue Purchase Agreement, [Loyd] purchased some of

Griffin’s Nationwide book of business, the purpose being to effectuate [Loyd’s]

ultimate succession to owner of GIA[,]” and agreed to pay Griffin in monthly

installments. (Am. Compl. ¶ 13.) Though he eventually became a partner of GIA, Loyd received “only limited access to the business’s financial records.” (Am. Compl.

¶ 14.)

10. In 2012, “[Loyd], GIA, and Nationwide entered into a Corporate Associate

Agent Agreement” pursuant to which Loyd and GIA agreed to exclusively sell

“Nationwide business.” (Am. Compl. ¶ 15.)

11. In 2018, Nationwide changed its agency ownership policies from a captive

agent policy to independent agencies. (Am. Compl. ¶ 23.) With this development,

Loyd asserts that “Griffin realized he could maintain his role as head of GIA and

began a campaign to force [Loyd] out of the business and/or to significantly reduce

[Loyd’s] partnership interest.” (Am. Compl. ¶ 23.) Loyd further alleges that he was

“forced” to merge Loyd Insurance Agency with GIA, with GIA being the surviving

corporation. (Am. Compl. ¶ 23.)

C. The Shareholders’ Agreement

12. Loyd alleges Griffin coerced him into signing a Shareholders’ Agreement

for GIA in or around 2018. (Am. Compl. ¶ 25.) Before the Shareholders’ Agreement

was presented to Loyd, he asserts that he owned “approximately seventy-two percent

of the entire Nationwide book of business” and “produc[ed] the majority of the

revenue[ ]” for GIA. (Am. Compl. ¶¶ 26, 28.) Nevertheless, the Shareholders’

Agreement assigned 67.7% of GIA’s ownership to Griffin and only 25.76% to Loyd.

(Am. Compl. ¶ 28.) Loyd alleges “Griffin told [Loyd] it was ‘[Griffin’s] way or no way.’ ”

(Am. Compl. ¶ 25.) “If [Loyd] refused to sign the Shareholder’s [sic] Agreement,” Loyd

alleges, “Griffin would have terminated [Loyd’s] employment and/or taken [Loyd’s] book of business, based on Griffin’s pattern and practice involving his other agents,

employees, or partners.” (Am. Compl. ¶ 25.) Loyd also alleges that, if he did not sign

the Shareholders’ Agreement, he would stand to “lose a considerable amount of

money[.]” (Am. Compl. ¶ 76.)

D. First Choice’s Formation and Activities

13. In April 2015, Griffin started First Choice Insurance Brokers, LLC (n/k/a

First Choice Agents Alliance, LLC (“First Choice”)). (Am. Compl. ¶ 17.) Through

First Choice, Griffin allegedly profited from “commercial policies sold through broker-

dealers other than Nationwide.” (Am. Compl. ¶ 18.) Griffin named his spouse and

son, but not himself, as First Choice’s original managing members. (Am. Compl. ¶

18.) Loyd believes Griffin was not a member because of his “exclusivity and/or

principal agent agreement” with Nationwide prior to Nationwide’s 2018 policy

change. (Am. Compl. ¶ 18.)

14.

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