McClure v. Panzura, LLC

District Court, N.D. California·Decided March 25, 2025·No. 5:24-cv-02966·Unknown

Opinion

LARRY MCCLURE, Case No. 24-cv-02966-EKL

Plaintiff, ORDER DENYING MOTION TO v. TRANSFER, GRANTING MOTION TO DISMISS IN PART Re: Dkt. Nos. 15, 20 Defendant.

This employment action arises from Plaintiff Larry McClure’s termination as the chief financial officer of Defendant Panzura, LLC (“Panzura”). Panzura moves to transfer the case to the Eastern District of Texas pursuant to 28 U.S.C. § 1404(a). Mot. to Transfer, ECF No. 15. Panzura also moves to dismiss for failure to state a claim. Mot. to Dismiss, ECF No. 20. The Court carefully reviewed the parties’ briefs and heard argument on November 13, 2024. For the following reasons, the motion to transfer is DENIED and the motion to dismiss is GRANTED in part and DENIED in part. Panzura makes software “for businesses to help [them] manage and move data.” Compl. ¶ 17, ECF No. 1-1.1 McClure was hired by Panzura’s former chief executive officer, Jill Stelfox (“CEO Stelfox”), in early 2022. Id. ¶ 18. He served as Panzura’s chief financial officer from “approximately March 16, 2022, through January 16, 2024, when [Panzura] terminated him.” Id. ¶ 19. McClure claims that Panzura terminated him in retaliation for whistleblowing against

1 The facts in this background section are taken from the complaint and assumed to be true for Panzura’s chief revenue officer, Dan Waldschmidt, for alleged misuse of company funds and for engaging in an improper quid-pro-quo sexual relationship with a junior female employee. Waldschmidt co-founded Panzura with CEO Stelfox. See id. ¶ 32. Waldschmidt became the company’s chief revenue officer – the head of the company’s sales division – “in or around May 2020.” Id. ¶ 22. He owns a small stake in the company and holds a position on the company’s board of directors. Id. Panzura is majority-owned by the venture capital firm Profile Capital Management, LLC, and two of its partners – Ben Chereskin and Ryan Varavadekar – also serve on Panzura’s board. Id. McClure alleges that, in or around late 2022, he became aware that Waldschmidt was “talking about separating from his wife.” Id. ¶ 26. McClure further alleges that, around that same time, Waldschmidt went on expensive trips to Saudi Arabia with a junior female employee using company funds. Id. ¶ 27. McClure was concerned that these trips had no legitimate business purpose because Waldschmidt and the junior female employee “stayed longer than made sense for the business” and failed to secure any deals. Id. McClure’s suspicions increased when, upon returning from Saudi Arabia, the junior female employee “was talking about leaving her husband.” Id. McClure believed that “there may have been a sexual relationship” between Waldschmidt and the junior female employee, “which involved a power differential and possibly coercion,” because the junior female employee worked on the company’s strategic sales team and reported directly to Waldschmidt. Id. McClure reported these concerns to CEO Stelfox. Id. Waldschmidt took a leave of absence in or around February 2023 and returned in April 2023 as chief transformation officer – a role that “had no budget authority and no direct reports.” Id. ¶ 28. McClure’s concerns persisted when Waldschmidt allegedly intervened on behalf of the junior female employee to prevent her from being laid off and to increase her compensation package. In or around May and June 2023, the junior female employee was identified for inclusion in a round of layoffs. Id. ¶ 30. Waldschmidt “petitioned” CEO Stelfox and McClure not to lay her off, which McClure “found highly irregular” given that the junior female employee no longer reported to Waldschmidt. Id. Then, in or around August 2023, Waldschmidt “demanded” female employee “increase her compensation.” Id. ¶ 32. McClure was concerned that Waldschmidt was engaging in a “quid-pro-quo sexual relationship” that could “violate the law,” and he reported his concern to CEO Stelfox. Id.; see also id. ¶ 35 (alleging that McClure believed “Waldschmidt’s conducting a sexual relationship with a subordinate employee on company time and using company funds” and “attempts to secure higher compensation” for the junior female employee “could violate the law”). In December 2023, during company meetings in San Jose, California, Waldschmidt and the junior female employee “petitioned” McClure to give the junior female employee “a more generous commissions package than her male peers.” Id. ¶ 36. McClure declined these requests because the junior female employee’s work performance did not merit a pay increase. Id. To the contrary, McClure and CEO Stelfox recommended terminating the junior female employee “because she had not driven any significant revenue.” Id. ¶ 38. On several occasions during these company meetings, Waldschmidt “expressed anger and frustration” with McClure and CEO Stelfox “for refusing to approve his desired pay increase” for the junior female employee. Id. ¶ 37. At the same time, McClure learned of new evidence from human resources director Shelby Stelfox that Waldschmidt and the junior female employee “had been having meals together on Panzura’s dime, for no discernible business purpose.” Id. ¶ 39. McClure again reported his concerns of preferential treatment to CEO Stelfox, calling it a “lawsuit waiting to happen.” Id. On or around December 7, 2023, during the company meetings in San Jose, CEO Stelfox confronted Waldschmidt about his alleged interference in the junior female employee’s compensation negotiations “and his attempt to make her compensation unequal and unfair.” Id. ¶ 40. McClure “observed Waldschmidt become agitated and angry at CEO Stelfox” during the confrontation. Id. According to the complaint, “Waldschmidt made the decision to retaliate against CEO Stelfox and McClure” after this confrontation. Id. ¶ 43. During this same period, McClure “contacted a lawyer at Jones Day for advice regarding Waldschmidt’s request to pay the [junior female employee] more than her male comparators” because Plaintiff “feared that such a compensation change would violate the law.” Id. ¶ 41. In January 2024, Waldschmidt began to “flaunt his sexual relationship” with the junior female employee by “touching her in ways visible to employees, at company events, disappearing together in the middle of the day, and causing employees to wonder whether they were sleeping together.” Id. ¶ 44. On January 11, 2024, CEO Stelfox confronted Waldschmidt about the sexual relationship and told him that his alleged “misuse of company funds to support the affair was fraudulent and potentially illegal.” Id. ¶ 45. Waldschmidt allegedly admitted to the sexual relationship. Id. On January 12, 2024 – the day after this confrontation – McClure and CEO Stelfox were summoned to Chicago by Panzura’s board members. Id. ¶ 46. On January 18, 2024, McClure and CEO Stelfox traveled to Chicago and made several presentations to Panzura board members Ryan Varavadekar and Ben Chereskin. Id. ¶ 47. These presentations detailed Panzura’s strong financial performance in 2023. Id. ¶ 48. After the presentations concluded, Chereskin told CEO Stelfox that her employment with the company was terminated. Id. ¶ 51. Chereskin reportedly told CEO Stelfox that “she had done nothing wrong, and Panzura wanted to move in another direction.” Id. ¶ 51. Panzura also terminated Stelfox’s husband (Steve) and daughter (Shelby), who both worked at the company. Id. ¶ 54. Before leaving the meeting, CEO Stelfox told Chereskin about Waldschmidt’s alleged misconduct. Id. ¶ 51. Chereskin “became angry and agitated” and “yelled at Stelfox.” Id. Chereskin then told McClure that he was terminated, too, and that “it ha[d] nothing to do with [his] performance,” but rather that Panzura needed “to clean the slate for a new management team.” Id. ¶ 55. Six days after Stelfox and McClure were terminated, Panzura announced that Waldschmidt w

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

McClure v. Panzura, LLC, (N.D. Cal. 2025).

McClure v. Panzura, LLC (McClure v. Panzura, LLC) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Van Dusen v. Barrack
376 U.S. 612 (Supreme Court, 1964)
Stewart Organization, Inc. v. Ricoh Corp.
487 U.S. 22 (Supreme Court, 1988)
Bell Atlantic Corp. v. Twombly
550 U.S. 544 (Supreme Court, 2007)
Ashcroft v. Iqbal
556 U.S. 662 (Supreme Court, 2009)
Staub v. Proctor Hospital
131 S. Ct. 1186 (Supreme Court, 2011)
Fayer v. Vaughn
649 F.3d 1061 (Ninth Circuit, 2011)
Decker Coal Company v. Commonwealth Edison Company
805 F.2d 834 (Ninth Circuit, 1986)
Manzarek v. St. Paul Fire & Marine Insurance
519 F.3d 1025 (Ninth Circuit, 2008)
Turner v. Anheuser-Busch, Inc.
876 P.2d 1022 (California Supreme Court, 1994)
Walker v. Geico General Insurance
558 F.3d 1025 (Ninth Circuit, 2009)
Patten v. Grant Joint Union High School District
37 Cal. Rptr. 3d 113 (California Court of Appeal, 2005)
Carter v. Escondido Union High School District
56 Cal. Rptr. 3d 262 (California Court of Appeal, 2007)
Getz v. Boeing Co.
547 F. Supp. 2d 1080 (N.D. California, 2008)
Saleh v. Titan Corp.
361 F. Supp. 2d 1152 (S.D. California, 2005)
Guz v. Bechtel National, Inc.
8 P.3d 1089 (California Supreme Court, 2000)
Miller v. Department of Corrections
115 P.3d 77 (California Supreme Court, 2005)