Marie Joseph v. Pond Realty Company

CourtCourt of Appeals for the Sixth Circuit
DecidedJuly 21, 2023
Docket22-4006
StatusUnpublished

This text of Marie Joseph v. Pond Realty Company (Marie Joseph v. Pond Realty Company) is published on Counsel Stack Legal Research, covering Court of Appeals for the Sixth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Marie Joseph v. Pond Realty Company, (6th Cir. 2023).

Opinion

NOT RECOMMENDED FOR PUBLICATION File Name: 23a0333n.06

Case No. 22-4006

UNITED STATES COURT OF APPEALS FOR THE SIXTH CIRCUIT

FILED Jul 21, 2023 ) MARIE JOSEPH, derivatively on behalf of DEBORAH S. HUNT, Clerk ) Columbia Oldsmobile Company, ) Plaintiff - Appellant, ) ON APPEAL FROM THE ) UNITED STATES DISTRICT v. ) COURT FOR THE SOUTHERN ) DISTRICT OF OHIO POND REALTY COMPANY, et al., ) Defendants - Appellees. ) OPINION )

Before: GIBBONS, READLER, and DAVIS, Circuit Judges.

DAVIS, Circuit Judge. Marie Joseph (“Marie”) is a minority shareholder in Columbia

Oldsmobile Company (“Columbia”). She brings this derivative action against defendants Pond

Realty Company (“Pond”) and Ned Van Emon alleging that they engaged in corporate misconduct

which harmed Columbia. Notably, Marie recently spent several years litigating similar claims,

involving essentially the same underlying facts and parties, in a different lawsuit. That litigation

culminated in a jury verdict against her on all counts. As a result, the district court dismissed the

complaint in this action on res judicata and judicial estoppel grounds. Finding no error in the

district court’s application of res judicata, we affirm.

I.

Marie and her brother, Ronald Joseph (“Ron”), are co-owners of Columbia—a closely-held

family business that deals in cars and real estate. Marie owns a minority stake in the company, Case No. 22-4006, Joseph v. Pond Realty Co., et al.

while Ron is Columbia’s majority shareholder and former Chief Executive Officer. Over several

decades, Marie came to believe that Ron used his position in the company to divert business

opportunities away from Columbia and to other businesses owned by Ron and his immediate

family. So, she filed a direct shareholder action against him in April 2016 in her individual

capacity. See Joseph v. Joseph, No. 1:16-cv-465 (S.D. Ohio filed Apr. 12, 2016) (“Joseph I”).

The Joseph I complaint alleged that Ron had “unfairly acquire[d] personal benefits” from

Columbia through “self-dealing and usurpation of [its] corporate opportunities,” and that his

actions proximately caused Marie financial harm. (JI R. 1, Compl., at PageID 6, 9–12).1

Marie amended her complaint in 2017 to add Gregory Joseph, George Joseph, Richard

Joseph, and Ronald Joseph, Jr. (collectively “Ron’s Sons”) as defendants. The amended complaint

also raised new claims alleging that the defendants facilitated undisclosed, self-dealing

transactions between Columbia and other corporate entities they owned, including Pond. Marie

alleged that Pond received management fees and other miscellaneous payments from Columbia

without the approval of Columbia’s minority shareholders (the “Columbia-Pond transactions”).

She sought the return of any ill-gotten gains that Ron and Ron’s Sons realized through these

transactions.

The parties filed cross motions for summary judgment in 2018. In pertinent part, Ron and

Ron’s Sons argued that Marie lacked standing to bring her claims against them in her individual

capacity, rather than derivatively on Columbia’s behalf. The district court rejected Ron’s standing

arguments because, under Ohio law, minority shareholders may bring claims against majority

shareholders in closely held corporations. But the district court granted Ron’s Sons’ motion for

1 Record citations to Joseph I, Case No. 1:16-cv-465, are denoted by “JI R.” Citations to the record in Joseph II, Case No. 1:19-cv-641, refer to “JII R.”

-2- Case No. 22-4006, Joseph v. Pond Realty Co., et al.

summary judgment—concluding that Marie’s claims against them could only be raised

derivatively.

The trial in Joseph I took place over the course of two weeks in October 2018. Marie

zealously prosecuted her claim for breach of fiduciary duties—featuring her theory that Ron

enriched himself by funneling money from Columbia to Pond under the guise of management fees

and other miscellaneous transactions. The jury considered extensive evidence on this point. For

example, Ron’s Sons each testified about the nature of the Columbia-Pond transactions. And

several other witnesses presented similar testimony. Among them was Ned Van Emon, the former

Chief Financial Officer of both Columbia and Pond until October 2016. Van Emon testified that

Columbia disbursed funds to Pond for legitimate business purposes which ultimately benefitted

Columbia.

The jury returned a verdict in favor of Ron on all claims. Among other things, it determined

that “all . . . transfers from Columbia and its subsidiaries to [Pond] . . . were fair to Columbia.” (JI

R. 210, Jury Interrog., at PageID 15719). Marie appealed, and this Court affirmed the district

court’s judgment in full. Joseph v. Joseph, No. 19-3350, 2022 WL 3536273 (6th Cir. Aug. 18,

2022), reh’g denied (6th Cir. Oct. 11, 2022).

Following the adverse jury verdict in Joseph I, Marie filed another suit in 2019, the

outcome of which is the subject of this appeal. Marie’s second suit (“Joseph II”) is a derivative

action brought on Columbia’s behalf, naming Pond and Van Emon as defendants. Like the

Joseph I complaint, the Joseph II complaint alleges that Pond participated in and was unjustly

enriched by “undisclosed and unauthorized self-dealing transactions” between Columbia and

Pond. (JII R. 1, Complaint, at PageID 8, 11). It similarly avers that Van Emon “enter[ed] into and

implement[ed] numerous financial relationships and [self-dealing] transactions” between

-3- Case No. 22-4006, Joseph v. Pond Realty Co., et al.

Columbia and Pond. (Id. at PageID 4–7). Marie seeks the return of all profits the defendants have

gained through the Columbia-Pond transactions.

Pond and Van Emon moved to dismiss the complaint. The district court granted their

motions and dismissed Marie’s complaint with prejudice, holding that Marie’s derivative claims

are barred by res judicata. The court also ruled that Marie was judicially estopped from pursuing

the present litigation. Marie now brings this timely appeal.

II.

We review a district court’s application of res judicata and judicial estoppel de novo. Buck

v. Thomas M. Cooley L. Sch., 597 F.3d 812, 816 (6th Cir. 2010) (res judicata standard of review);

Audio Technica U.S., Inc. v. United States, 963 F.3d 569, 574 (6th Cir. 2020) (judicial estoppel

standard of review).

“[F]or judgments in diversity cases, federal law incorporates the rules of preclusion applied

by the State in which the rendering court sits.” Prod. Sols. Int’l, Inc. v. Aldez Containers, LLC, 46

F.4th 454, 458 (6th Cir. 2022) (quoting Taylor v. Sturgell, 553 U.S. 880, 891 n.4 (2008)). Marie

filed both of her lawsuits in the Southern District of Ohio under diversity jurisdiction. We

therefore apply Ohio state law to her appeal.

III.

To begin, Marie argues that the elements of res judicata were not met here—and therefore,

the district court erred in applying the doctrine to dismiss her complaint. After conducting a de

novo review, we disagree.

Under Ohio law, “[t]he doctrine of res judicata encompasses the two related concepts of

claim preclusion, also known as res judicata or estoppel by judgment, and issue preclusion, also

known as collateral estoppel.” O’Nesti v.

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Marie Joseph v. Pond Realty Company, Counsel Stack Legal Research, https://law.counselstack.com/opinion/marie-joseph-v-pond-realty-company-ca6-2023.