Lytikainen v. Schaffer's Bridal LLC

CourtDistrict Court, D. Arizona
DecidedAugust 19, 2019
Docket2:18-cv-04685
StatusUnknown

This text of Lytikainen v. Schaffer's Bridal LLC (Lytikainen v. Schaffer's Bridal LLC) is published on Counsel Stack Legal Research, covering District Court, D. Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Lytikainen v. Schaffer's Bridal LLC, (D. Ariz. 2019).

Opinion

1 WO 2 3 4 5 6 IN THE UNITED STATES DISTRICT COURT 7 FOR THE DISTRICT OF ARIZONA

9 Elizabeth Reyes Lytikainen, No. CV-18-04685-PHX-DWL

10 Plaintiff, ORDER

11 v.

12 Schaffer’s Bridal LLC, et al.,

13 Defendants. 14 15 Pending before the Court is a motion to dismiss filed by Defendants Schaffer’s 16 Bridal, LLC, Susan Hagedorn, and Gary M. Kirke (collectively, “Defendants”). (Doc. 17 10.)1 For the following reasons, the motion will be granted in part and denied in part. 18 BACKGROUND 19 The facts pleaded in Plaintiff Elizabeth Reyes Lytikainen’s complaint, which the 20 Court accepts as true for the purpose of this motion to dismiss, are as follows: 21 Defendants Hagedorn and Kirke are members of Schaffer’s Bridal, LLC. (Doc. 1- 22 4 ¶¶ 3, 4.) Schaffer’s Bridal has two locations: one in Scottsdale, Arizona, and another in 23 Des Moines, Iowa. (Id. ¶ 9.) 24 In 2014, Lytikainen began providing services to Schaffer’s Bridal, including 25 performing dress alterations and designing and making bridal veils. (Id. ¶ 10.) 26

27 1 After setting a hearing on Defendants’ motion (Doc. 14), the Court issued a tentative ruling (Doc. 15). After reviewing it, the parties informed the Court that they did not wish 28 to proceed with oral argument and instead stipulated that Lytikainen could file a first amended complaint in conformance with the tentative ruling. 1 In early 2015, “in response to [Lytikainen’s] request for payment of substantial 2 amounts owing to [her],” Hagedorn, on behalf of Defendants, offered to sell Lytikainen a 3 50% interest in Schaffer’s Bridal. (Id. ¶ 11.) The offer provided that Defendants would 4 immediately transfer the 50% interest in Schaffer’s Bridal in exchange for $100,000 in cash 5 and $400,000 worth of veil and gown alteration services. (Id.) The offer also provided 6 that Defendants would compensate Lytikainen $80,000 per year to manage Schaffer’s 7 Bridal’s Scottsdale location. (Id.) 8 After Lytikainen accepted the offer, Hagedorn promised that Defendants would 9 prepare documentation to reflect Lytikainen’s ownership interest in Schaffer’s Bridal. (Id. 10 ¶ 12.) Shortly thereafter, Lytikainen began managing the Scottsdale location and received 11 the promised salary. (Id. ¶ 13.) 12 In September 2015, the Scottsdale location relocated within Scottsdale. (Id. ¶ 14.) 13 Lytikainen continued to manage the Scottsdale location, at Hagedorn’s instruction, but no 14 longer received her promised salary. (Id.) 15 In late 2015, Hagedorn assured Lytikainen that she would receive her management 16 salary, payment owing for alterations and veils, and documentation confirming the transfer 17 of her 50% interest in Schaffer’s Bridal. (Id. ¶ 15.) 18 In or around December 2015, Kirke and Hagedorn flew Lytikainen to Des Moines, 19 Iowa and promised to finalize the transfer of the 50% interest in Schaffer’s Bridal. (Id. 20 ¶ 16.) At that meeting, Kirke introduced Lytikainen to others as his business partner and 21 reiterated that the documentation reflecting her 50% interest in Schaffer’s Bridal would be 22 prepared. (Id. ¶ 17.) 23 Through the first six months of 2017, Lytikainen continued to manage the Scottsdale 24 location and continued to provide alteration services and veils to Schaffer’s Bridal’s 25 Scottsdale and Des Moines locations. (Id. ¶ 19.) However, in or around July 2017, 26 Lytikainen ceased her involvement with Schaffer’s Bridal because Defendants hadn’t paid 27 her the promised management salary, or paid her the amounts owed for alterations and 28 veils, or transferred the 50% interest in Schaffer’s Bridal. (Id. ¶ 20.) 1 “Throughout 2017 and early 2018,” Defendants continued to promise to pay 2 amounts owed to Lytikainen, including unpaid salary. (Id. ¶ 36.) In mid-2018, Defendants 3 offered payment to Lytikainen, but it included “little or none of the past due salary owed 4 to [Lytikainen] for managing the Scottsdale Schaffer’s store.” (Id.) 5 LEGAL STANDARD 6 “[T]o survive a motion to dismiss, a party must allege ‘sufficient factual matter, 7 accepted as true, to state a claim to relief that is plausible on its face.’” In re Fitness 8 Holdings Int’l, Inc., 714 F.3d 1141, 1144 (9th Cir. 2013) (quoting Ashcroft v. Iqbal, 556 9 U.S. 662, 678 (2009)). “A claim has facial plausibility when the plaintiff pleads factual 10 content that allows the court to draw the reasonable inference that the defendant is liable 11 for the misconduct alleged.” Id. (quoting Iqbal, 556 U.S. at 678). “[A]ll well-pleaded 12 allegations of material fact in the complaint are accepted as true and are construed in the 13 light most favorable to the non-moving party.” Id. at 1144-45 (citation omitted). However, 14 the court need not accept legal conclusions couched as factual allegations. Iqbal, 556 U.S. 15 at 679-80. The court also may dismiss due to “a lack of a cognizable legal theory.” Mollett 16 v. Netflix, Inc., 795 F.3d 1062, 1065 (9th Cir. 2015) (citation omitted). 17 ANALYSIS 18 I. Securities Claims (Counts I and II)2 19 Defendants move to dismiss Lytikainen’s securities claims because: (1) the interest 20 in Schaffer’s Bridal on which her securities claims is premised isn’t a “security” within the 21 meaning of the Rule 10b-5; (2) Lytikainen doesn’t plead a sufficient nexus between the 22 alleged fraud and the sale of a security; and (3) Lytikainen doesn’t plead her securities 23 claims with adequate particularity as required by Rule 9(b). (Doc. 10 at 4-10.) The Court 24 agrees with Defendants’ first argument and will therefore dismiss Counts I and II. 25

26 2 Lytikainen brought securities claims under both federal law (Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5) and state law (A.R.S. § 44-1991). The 27 Court addresses these claims simultaneously under federal law because “the near-identical language of the two statutes is strong support for applying existing federal precedent on 28 Rule 10b-5 to § 44-1991(A).” In re Allstate Life Ins. Co. Litig., 2013 WL 5161688, *13 (D. Ariz. 2013). 1 Lytikainen alleges the “security” at issue is a 50% stake in Schaffer’s Bridal. (Doc. 2 1-4 ¶¶ 22, 31.) Because Schaffer’s Bridal is a limited liability company, Defendants argue, 3 Lytikainen’s interest can only be a “security” if it constitutes an “investment contract” 4 under the Securities Exchange Act. (Doc. 10 at 5.) Defendants contend Lytikainen’s 5 interest doesn’t qualify because an investment contract is an “investment of money in a 6 common scheme or enterprise with the expectation of profits to come solely from the 7 efforts of others.” (Id. at 5-6, emphasis added.) Defendants assert the profits from 8 Schaffer’s Bridal don’t come solely from the efforts of others—the complaint alleges 9 Lytikainen managed a Schaffer’s Bridal location and provided alteration services. (Id. at 10 5.) Defendants thus conclude that, because Lytikainen is an active participant in Schaffer’s 11 Bridal, her interest can’t constitute an investment contract and isn’t a “security.” (Id.) 12 “[C]ourts tasked with deciding whether LLC membership interests constitute a 13 security under the Exchange Act generally evaluate whether such interests are ‘investment 14 contracts . . . .’” D.R. Mason Constr. Co. v. GBOD, LLC, 2018 WL 1306425, *5 (S.D. Cal. 15 2018). The three requirements for establishing an investment contract are: (1) an 16 investment of money; (2) in a common enterprise; (3) with an expectation of profits to be 17 derived solely from the efforts of others. Secs. & Exch. Comm’n v. W.J. Howey Co., 328 18 U.S. 293

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Lytikainen v. Schaffer's Bridal LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/lytikainen-v-schaffers-bridal-llc-azd-2019.