McLean Gordon v. Equitas Capital Group, LLC and Alex Leykind

CourtDistrict Court, S.D. New York
DecidedSeptember 29, 2025
Docket1:24-cv-06789
StatusUnknown

This text of McLean Gordon v. Equitas Capital Group, LLC and Alex Leykind (McLean Gordon v. Equitas Capital Group, LLC and Alex Leykind) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
McLean Gordon v. Equitas Capital Group, LLC and Alex Leykind, (S.D.N.Y. 2025).

Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK MCLEAN GORDON, Plaintiff, -against- 1:24-cv-06789 (ALC) (VF) OPINION & ORDER EQUITAS CAPITAL GROUP, LLC and ALEX LEYKIND, Defendants. ANDREW L. CARTER, JR., United States District Judge: Plaintiff McLean Gordon (“Plaintiff” or “Gordon”) brings this action against Equitas Capital Group, LLC (“Equitas”) and Alex Leykind (“Leykind,” with Equitas “Defendants”) for (1) violations of the New York City and New York State Freelance Isn’t Free Acts (“FIFA”), (2) breach of contract, (3) breach of the implied covenant of good faith and fair dealing, (4) unjust enrichment, (5) account stated, and (6) a declaratory judgment. In the alternative to his FIFA claims, he pleads violations of the New York Labor Law (“NYLL”). Defendants move to dismiss Plaintiff’s First Amended Complaint (“FAC”) under Federal Rules of Civil Procedure 12(b)(1) and (6). For the reasons that follow, the motion is granted. BACKGROUND I. Factual History1 0F Plaintiff alleges that beginning in July 2023 he provided real estate services to Equitas, under the supervision of its principal, Alex Leykind. ECF No. 15 ¶¶ 10, 14, 19 (“FAC”). His work

1 The following facts are taken from Plaintiff’s First Amended Complaint (“FAC”) docketed at ECF No. 15 and accepted as true for the purposes of this motion. included underwriting loan scenarios, preparing lender materials, analyzing lender terms, supporting loan officers, and advising on loan placement. Id. ¶ 14. According to the FAC, on July 17, 2023, the parties agreed by email that Gordon would receive a 10 percent commission on Equitas’s fees for loans on which he assisted. Id. ¶ 17; ECF

No. 15-1 (“Ex. A”). Gordon wrote: “My understanding is that you’re offering me 10% of what fees Equitas gets [on the specified loans], after paying referral fees. I think that’s very fair.” Ex. A. Leykind replied: “Correct, Over ride from the guys on their loans[]. [T]his will be of net after referral fee is paid out.” Id. Gordon responded: “Thank you, that’s generous. Let’s grow this company.” Id. The emails do not include typed-name signatures; Leykind’s reply shows only an automatically generated signature block. Id. In March of 2024, Leykind allegedly increased Gordon’s rate to 17.5 percent on certain deals, which Gordon accepted. FAC ¶¶ 19–20. Plaintiff pleads a course of dealing in which he sent periodic “pipeline” emails that referenced the 17.5 percent rate, to which Leykind did not object. Id. ¶ 21; ECF No. 15-2 (“Ex. B”). Exhibit B to the FAC is a June 19, 2024 email from Gordon to

Leykind that attaches a pipeline chart. Ex. B. The chart lists several deals and includes “17.50%” for some entries and “10.00%” for others. Id. at 3–4. One minute after Gordon’s email, Leykind replied “Thanks” and “Thank you,” signed off “A-,” and included his Equitas signature block, without objecting to the 17.5% entries. Id. at 2. The FAC also refers to a July 13, 2023 “Acknowledgement of Meeting Minutes,” which described Gordon’s role and directed that he be copied on all construction, agency, and commercial mortgage-backed securities loans. FAC ¶ 27. Gordon and Leykind allegedly both signed this. Id.

2 Plaintiff alleges that in late June of 2024 Equitas told him it would pay only five percent on several deals for which he had already provided the requisite work. Id. ¶ 31. When he protested, Leykind terminated his services. Id. ¶ 36. On July 2, 2024, Gordon sent Equitas a pipeline chart summarizing deals and unpaid obligations. Id. ¶¶ 37–39. In July and August of 2024, Equitas

allegedly paid commissions of five percent on two closed deals, despite Gordon’s invoices for ten percent. Id. ¶ 40. Plaintiff alleges that his unpaid commissions amount to $328,375, only $10,500 of which Equitas has paid. Id. ¶ 61. For his statutory claims, Plaintiff pleads that he was a “freelance worker” and Equitas a “hiring party” under FIFA, that Equitas failed to make timely and full payment, and that he is entitled to double damages. Id. ¶¶ 67–68. Plaintiff alternatively pleads he was “misclassified” as a freelancer and Defendants should have treated him as an employee, for the purposes of his NYLL claims. Id. ¶ 43. In his prayer for relief, Plaintiff seeks compensatory and statutory damages of at least $1,313,500, plus fees and costs. Id. at 19. II. Procedural History

On September 6, 2024, Plaintiff filed the complaint initiating this action. ECF No. 1. On December 17, 2024, Plaintiff filed the First Amended Complaint. ECF No. 15. The FAC pleads claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, account stated, declaratory judgment, and FIFA violations, or in the alternative, NYLL violations. Id. ¶¶ 1–2. On January 16, 2025, Defendants filed their motion to dismiss. ECF No. 18. On January 30, 2025, Plaintiff filed his opposition along with supporting exhibits. ECF Nos. 19–20. On February 6, 2025, Defendants filed their reply. ECF No. 21.

3 STANDARD OF REVIEW To survive a motion to dismiss pursuant to Federal Rule of Civil Procedure 12(b)(6), “a complaint must contain sufficient factual matter, accepted as true, to ‘state a claim to relief that is plausible on its face.’” Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009) (quoting Bell Atl. Corp. v.

Twombly, 550 U.S. 544, 570 (2007)). A claim is facially plausible “when the plaintiff pleads factual content that allows the Court to draw the reasonable inference that the defendant is liable for the misconduct alleged.” Id. (citing Twombly, 550 U.S. at 556). The plaintiff must allege sufficient facts to show “more than a sheer possibility that a defendant has acted unlawfully,” and accordingly, where the plaintiff alleges facts that are “‘merely consistent with’ a defendant’s liability, it ‘stops short of the line between possibility and plausibility of entitlement to relief.’” Id. (quoting Twombly, 550 U.S. at 557). In considering a motion to dismiss, courts accept as true all factual allegations in the complaint and draw all reasonable inferences in the plaintiff’s favor. See Goldstein v. Pataki, 516 F.3d 50, 56 (2d Cir. 2008). However, the court need not credit “[t]hreadbare recitals of the elements

of a cause of action, supported by mere conclusory statements.” Iqbal, 556 U.S. at 678 (citing Twombly, 550 U.S. at 555); see also id. at 681. Instead, the complaint must provide factual allegations sufficient “to give the defendant fair notice of what the claim is and the grounds upon which it rests.” Port Dock & Stone Corp. v. Oldcastle Northeast, Inc., 507 F.3d 117, 121 (2d Cir. 2007) (citing Twombly, 550 U.S. at 555). In addition to the factual allegations in the complaint, the court may consider “the documents attached to the complaint as exhibits, and any documents incorporated in the complaint by reference.” Peter F. Gaito Architecture, LLC v. Simone Dev. Corp., 602 F.3d 57, 64 (2d Cir. 2010) (internal quotation omitted).

4 DISCUSSION Defendants move to dismiss the FAC on several independent grounds. They first argue that the alleged commission agreement is unenforceable under the Statute of Frauds because it is not memorialized in a signed writing, cannot be performed within one year, and concerns

compensation for negotiating loans. ECF No. 18-1 at 2–7.

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McLean Gordon v. Equitas Capital Group, LLC and Alex Leykind, Counsel Stack Legal Research, https://law.counselstack.com/opinion/mclean-gordon-v-equitas-capital-group-llc-and-alex-leykind-nysd-2025.