Mahnush Movahedi v. Dfinity USA Research LLC, et al.

CourtDistrict Court, N.D. California
DecidedDecember 29, 2025
Docket5:25-cv-05503
StatusUnknown

This text of Mahnush Movahedi v. Dfinity USA Research LLC, et al. (Mahnush Movahedi v. Dfinity USA Research LLC, et al.) is published on Counsel Stack Legal Research, covering District Court, N.D. California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Mahnush Movahedi v. Dfinity USA Research LLC, et al., (N.D. Cal. 2025).

Opinion

1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 SAN JOSE DIVISION 7 8 MAHNUSH MOVAHEDI, Case No. 5:25-cv-05503-EJD

9 Plaintiff, ORDER GRANTING IN PART AND DENYING IN PART MOTIONS TO 10 v. DISMISS WITH LEAVE TO AMEND

11 DFINITY USA RESEARCH LLC, et al., Re: Dkt. Nos. 24, 25, 26 Defendants. 12

13 Plaintiff Mahnush Movahedi (“Plaintiff”) brings various California state claims against 14 Defendants Dfinity USA Research, LLC (“Dfinity USA”), Dfinity Stiftung (“Dfinity 15 Switzerland”), and Dominic Williams (collectively, “Defendants”), alleging that Defendants failed 16 to timely release her vested cryptocurrency. Compl., ECF No. 1-1. Before the Court are 17 Defendants’ three motions to dismiss. Dfinity USA Mot., ECF No. 25; Dfinity Switzerland Mot., 18 ECF No. 24; Williams Mot., ECF No. 26. These motions are fully briefed. Opp’n to Dfinity USA 19 Mot., ECF No. 31; Reply to Dfinity USA Mot., ECF No. 35; Opp’n to Dfinity Switzerland Mot., 20 ECF No. 33; Reply to Dfinity Switzerland Mot., ECF No. 36; Opp’n to Williams Mot., ECF No. 21 32; Reply to Williams Mot., ECF No. 37. 22 After careful review of the relevant documents, the Court finds this matter suitable for 23 decision without oral argument pursuant to Local Rule 7-1(b). For the reasons explained below, 24 the Court GRANTS IN PART and DENIES IN PART Defendants’ motions to dismiss with 25 leave to amend. 26 I. BACKGROUND 27 Plaintiff is suing Defendants for their failure to release her vested cryptocurrency in a 1 timely manner, which she alleges deprived her of the ability to sell her tokens before their value 2 decreased substantially. There are three Defendants: Dfinity USA, Dfinity Switzerland, and 3 Williams. Dfinity USA is an LLC operating out of San Francisco that develops network protocols 4 and cryptography for the Internet Computer (“ICP”), which is a set of protocols for independent 5 data centers to offer a decentralized Internet as an alternative to cloud services. Compl. ¶¶ 3, 8. 6 Dfinity USA has one sole member, Dfinity Switzerland. Id. ¶ 3. Dfinity Switzerland is a non- 7 profit organization based in Zurich, Switzerland with operations also in San Francisco. Id. 8 Williams is the President and Council Member of Dfinity Switzerland and the Chief Executive 9 Officer of Dfinity USA. Id. ¶ 4. Williams resided in Santa Clara County and Plaintiff resided in 10 San Mateo County at all times alleged in the complaint. Id. ¶¶ 1, 4. 11 Dfinity USA hired Plaintiff as a senior research scientist in August 2017. Id. ¶ 9. She 12 worked on a project to develop a form of cryptocurrency known as “DFN tokens.” Id. Her 13 compensation included a base salary and an opportunity to earn DFN tokens. Id. ¶ 10. Plaintiff 14 signed two agreements to this end: (1) an employment agreement with Dfinity USA; and (2) a 15 Restricted DFN Agreement with Dfinity Switzerland. Id. ¶¶ 6, 20. 16 On May 10, 2021, Dfinity USA launched the ICP and listed the DFN tokens for sale to the 17 public in an initial coin offering through several cryptocurrency exchanges, including Coinbase. 18 Id. ¶ 14. The tokens sold for approximately $580 shortly after. Id. Plaintiff emailed Dfinity USA 19 on May 11, 2021, requesting to transfer 300,000 of her tokens to Coinbase at the current price of 20 $495 per token. Id. ¶ 15. Dfinity USA confirmed that she had a vested total of 452,083 tokens 21 that were eligible to be distributed, but it did not transfer her any tokens at that time. Id. ¶ 16. 22 After multiple requests, Williams called Plaintiff and offered to release only 40,000 tokens. Id. ¶ 23 18. He allegedly refused to release the rest because he represented the batch would be worth more 24 than $6 million, and there was concern that the market would suffer if she sold all her tokens. Id. 25 ¶¶ 17–18. After she retained counsel, Dfinity USA slowly transferred all her tokens, but by the 26 time she received them, they were worth significantly less, as low as $39. Id. ¶¶ 19–22. 27 Plaintiff now brings claims for breach of contract, breach of the implied covenant of good 1 faith and fair dealing, conversion, and violation of the California Unfair Competition Law 2 (“UCL”), Cal. Bus. & Prof. Code § 17200, et seq. Each Defendant filed a separate motion to 3 dismiss. 4 II. LEGAL STANDARD 5 Federal Rule of Civil Procedure 8(a) requires a plaintiff to plead each claim with sufficient 6 specificity to “give the defendant fair notice of what the . . . claim is and the grounds upon which 7 it rests.” Bell Atl. Corp. v. Twombly, 550 U.S. 544, 555 (2007) (internal quotations omitted). A 8 complaint which falls short of the Rule 8(a) standard may be dismissed if it fails to state a claim 9 upon which relief can be granted. Fed. R. Civ. P. 12(b)(6). Dismissal of a claim under Rule 10 12(b)(6) may be based on a lack of a cognizable legal theory or the absence of sufficient facts 11 alleged under a cognizable legal theory. Mendiondo v. Centinela Hosp. Med. Ctr., 521 F.3d 1097, 12 1104 (9th Cir. 2008); Balistreri v. Pacifica Police Dep’t, 901 F.2d 696, 699 (9th Cir. 1988). 13 Moreover, the factual allegations “must be enough to raise a right to relief above the speculative 14 level” such that the claim “is plausible on its face.” Twombly, 550 U.S. at 556–57. 15 At the motion to dismiss stage, the Court must read and construe the complaint in the light 16 most favorable to the non-moving party. Reese v. BP Expl. (Alaska) Inc., 643 F.3d 681, 690 (9th 17 Cir. 2011). The Court must accept as true all “well-pleaded factual allegations.” Ashcroft v. 18 Iqbal, 556 U.S. 662, 664 (2009). However, courts are not bound to accept as true a legal 19 conclusion couched as a factual allegation. Twombly, 550 U.S. at 555. “In all cases, evaluating a 20 complaint’s plausibility is a context-specific endeavor that requires courts to draw on . . . judicial 21 experience and common sense.” Levitt v. Yelp! Inc., 765 F.3d 1123, 1135 (9th Cir. 2014) (quoting 22 Starr v. Baca, 652 F.3d 1202, 1216 (9th Cir. 2011)) (internal quotation marks omitted). 23 If a motion to dismiss is granted, “a district court should grant leave to amend even if no 24 request to amend the pleading was made, unless it determines that the pleading could not possibly 25 be cured by the allegation of other facts.” Lopez v. Smith, 203 F.3d 1122, 1127 (9th Cir. 2000) 26 (internal quotation marks omitted). 27 III. DISCUSSION 1 The Court will begin with Williams’s jurisdictional argument before turning to arguments 2 regarding Plaintiff’s claims for breach of contract, breach of the implied covenant of good faith 3 and fair dealing, conversion, and violation of the UCL. 4 A. Personal Jurisdiction 5 Williams, a British national residing in Switzerland, argues the Court lacks personal 6 jurisdiction over him because he does not reside in or have the required minimum contacts with 7 California. The Court finds otherwise.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Burger King Corp. v. Rudzewicz
471 U.S. 462 (Supreme Court, 1985)
Bell Atlantic Corp. v. Twombly
550 U.S. 544 (Supreme Court, 2007)
Ashcroft v. Iqbal
556 U.S. 662 (Supreme Court, 2009)
Mindys Cosmetics, Inc. v. Dakar
611 F.3d 590 (Ninth Circuit, 2010)
Reese v. BP Exploration (Alaska) Inc.
643 F.3d 681 (Ninth Circuit, 2011)
Dole Food Company, Inc. v. Watts
303 F.3d 1104 (Ninth Circuit, 2002)
Erlich v. Menezes
981 P.2d 978 (California Supreme Court, 1999)
Applied Equipment Corp. v. Litton Saudi Arabia Ltd.
869 P.2d 454 (California Supreme Court, 1994)
Mendiondo v. Centinela Hospital Medical Center
521 F.3d 1097 (Ninth Circuit, 2008)
Cel-Tech Communications, Inc. v. Los Angeles Cellular Telephone Co.
973 P.2d 527 (California Supreme Court, 1999)
Boschetto v. Hansing
539 F.3d 1011 (Ninth Circuit, 2008)
Smith v. City and County of San Francisco
225 Cal. App. 3d 38 (California Court of Appeal, 1990)
Khoury v. Maly's of California, Inc.
14 Cal. App. 4th 612 (California Court of Appeal, 1993)
Guz v. Bechtel National, Inc.
8 P.3d 1089 (California Supreme Court, 2000)
Avidity Partners v. State of California
221 Cal. App. 4th 1180 (California Court of Appeal, 2013)
Walden v. Fiore
134 S. Ct. 1115 (Supreme Court, 2014)
Boris Levitt v. Yelp! Inc.
765 F.3d 1123 (Ninth Circuit, 2014)

Cite This Page — Counsel Stack

Bluebook (online)
Mahnush Movahedi v. Dfinity USA Research LLC, et al., Counsel Stack Legal Research, https://law.counselstack.com/opinion/mahnush-movahedi-v-dfinity-usa-research-llc-et-al-cand-2025.