NVent, LLC v. Hortonworks, Inc.

CourtSuperior Court of Delaware
DecidedFebruary 1, 2017
DocketN16C-05-148 EMD CCLD
StatusPublished

This text of NVent, LLC v. Hortonworks, Inc. (NVent, LLC v. Hortonworks, Inc.) is published on Counsel Stack Legal Research, covering Superior Court of Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
NVent, LLC v. Hortonworks, Inc., (Del. Ct. App. 2017).

Opinion

IN THE SUPERlOR COURT OF THE STATE OF DELAWARE

NVENT, LLC, Plaintiff, C.A. No. Nl6C-05-l48 EMD CCLD

V.

HORTONWORKS, INC.,

Defendant.

Submitted: October 24, 2016 Decided: February l, 2017

Upon Defendant Hortonworks, Inc. ’s Partial Motion to Dismiss Counts II, III, and 1 V of the Verifl`ed Complaint GRANTED in part and DENIED in part Kurt M. Heyman_. `Esquirc, Saniuel T. Hirzel ll, Esquire_. lleyman Enerio Gattuso & l'Iirzel LLP, Willningtom Delaware, Neal A. .Iacobs, Esquirc, Richard E. Miller, l`{‘lsquire, and .loshua A. Gelman, Esquire_. Jacobs haw Group_. Philade]pliia, Pennsy!vania. Arrr)rney.v_fi)r NVem. LLC Jeremy D. Anderson, Esquire, Kelly A. Del Dotlo, Esquire, Fish & Richardson P.C.,

Wilmington, Delaware, and Gus P. Coldebella, Esquire, Fish & Richardson P.C., Boston, Massachusetts. Attorneys for Hortonworks, Inc.

DAVIS, J. I. INTRODUCTION

This breach of contract action is assigned to the Complex Commercial Litigation Division of the Court. On l\/lay 16, 2016, Plaintiff NVent, LLC (“NVent”) filed its Veriiied Complaint (the “Complaint”). Through the Complaint, NVent seeks to hold Defendant Hortonworks, Inc. (“Hortonworks”) accountable for Hortonworks’ misrepresentations regarding referrals; Hortonworks’ agreement to purchase a minority ownership interest in HVent; Hortonworks’ agreement to purchase the assets of HVent; and, Hortonworks’ Wrongful and

oppressive conduct in controlling management operations and decisions at HVent.

NVent presents four claims for relief in the Complaint. NVent asserts a claim for a declaratory judgment, contending that it is not in default under a Term Loan Agreement (the “Note”) entered into between Hortonworks and NVent (Count I).l NVent alleges it has a “legitimate interest in the prompt resolution of the issue of whether Hortonworks’ vague and false accusations are sufficient to establish that an ‘Event of Default,’ as set forth in the Note, has occurred because NVent will suffer damages if forced to comply with Hortonworks’ unsubstantiated demands.”2 Second, NVent avers a claim for promissory estoppel (Count II).3 NVent contends that Hortonworks made clear and unambiguous promises regarding the Note, and NVent relied upon those promises to enter the Note.4 Third, NVent makes a misrepresentation claim (Count III).5 Here, NVent claims that Hortonworks allegedly misrepresented that it would acquire NVent, and knew, or should have known, at the time of making the representations, that it would not be able to acquire NVent due to impediments6 Further, Hortonworks misrepresented that it had $40 million in work available for NVent.7 Finally, NVent asserts a Lender Liability claim (Count IV).8 NVent contends that Hortonworks acted in bad faith in securing the Note, and exercised greater-than-typical control over NVent as its lender.9 Specifically, NVent alleges that Hortonworks controlled NVent’s daily business operations and long-term management decisions, and forced NVent to terminate employees.10

On June 13, 2016, Hortonworks filed its Defendant Hortonworks, lnc.’s Opening Brief in

Support of its Partial Motion to Dismiss Counts II, III, and lV of the Verified Complaint (the

l See Verif`led Complaint 111 73-78 (hereafter “Pl.’s. Compl.”). 2 1d. 1176.

3 See id. 1111 78_88.

“ Id. 1111 79, 82.

5 See id. 111 89_97.

6 ld. 1111 90_91.

7 ld. 1193.

s See id. 1|1[ 98_110.

9 ld. 11 100.

‘° 1a1111101_103.

“Motion”). Hortonworks also filed its answer and counterclaims NVent filed its Plaintiff`s Brief in Opposition to Defendant’s Motion to Dismiss (the “Opposition”) on July 15, 2016. Hortonworks filed its Defendant Hortonworks, Inc.’s Reply Brief in Support of its Motion to Dismiss Counts 2, 3, and 4 of the Verified Complaint (the “Reply”) on August l, 2016. The Court heard oral argument on October 24, 2016 on the Motion, the Opposition, and the Reply. At the end of the hearing, the Court took the Motion under advisement

For the reasons set forth below, the Court will DENY the Motion as to Count Il. The Court will GRANT the Motion as to Counts III and IV, dismissing these counts without prejudice to allow NVent an opportunity to amend these two counts within fifteen (15) days from the date of this Opinion.

11. RELEVANT FACTs“

A. GENERAL BACKGRoUND

Hortonworks is an analytics business, specifically using the Hadoop programming framework12 Sometime in 2014, Hortonworks sought to grow its business through an initial public offering due to a growing demand for Hadoop services.13 So, Hortonworks sought out a start-up enterprise that had the expertise to develop a work force capable of doing Hadoop servicing work, with an eye towards absorbing the start-up down the road.14 NVent contends it

was that enterprise.

ll Un|ess otherwise indicated, the following are the Relevanl Facts as alleged in the Complaint. l"`or purposes o't` the Motion, the Court must view all well-pleaded facts alleged in the Complaint as true and in a light most favorable to NVenl. See, e.g., (.'en!. M:.)r!g. (.`0, v, ll'forgcrn rS‘.~‘rm.-'r{v Mw'!g. ("up:`m.f !-fo.ldmg.\' LLC`, 27 A.3d 53 | ‘ 536 {De|. 2()| l}; Doe v. Cec!'w'.v Ac:c:d., LLC, C.A. No. 09C-09-l36 .IRS` 2010 WL 5825343, at *3 (Del. Super. Oct. 2'?, 2010`).

lz Pl.’s Compl.1l 7.

‘3 1a 1111 8-9.

l“1@1. 1111 10_11.

Hortonworks began talks with NVent in the fall of 2014.15 Hortonworks proposed that it would invest $2.5 million in NVent in exchange for a 19.9% equity ownership in NVent.l(’ Further, Hortonworks promised to provide NVent with approximately $40 million in servicing work.17 Hortonworks also represented that it would assist NVent secure an additional $2.5 million investment in order for NVent to hire and train consultants to meet Hortonworks’ servicing demands.18 Hortonworks executed a Memorandum of Terms (“l\/Iemorandum”) reflecting the investment.19 The Memorandum provided that Hortonworks intended to invest $2.5 million by way of a note to be fixed at 5% interest, which could not be prepaid, and which would ultimately be converted to a 19.9% equity ownership in NVent.20

Hortonworks allegedly reneged on the Memorandum’s terms, purportedly because “Hortonworks claimed it could not directly acquire an ownership interest in NVent because such an acquisition would negatively impact Hortonworks’ valuation for its upcoming IPO.”21 Although the Memorandum was signed, NVent contends that Hortonworks’ actions in connection with the Memorandum foreshadowed Hortonworks’ future behavior: Hortonworks would lend NVent money, on Hortonworks’ terms, for the purported purpose of assisting NVent to gear up and meet Hortonworks’ servicing needs, and with the aim to acquire, in whole or in

part, NVent.22

‘5 ld. 11 12.

16 141114-15.

" 1d. 11 16.

‘8 Id. 1111 17_18.

‘9 ld. 11 19.

20 Id. 1[ 20. The Memorandum, attached at Exhibit A to Plaintiff’ s complaint, is not signed by NVent, LLC. Only Horton’s signature is attached.

2‘ Pl.’s compl. 1111 23_25.

22 1a 11 70.

Hortonworks and NVent continued business. On February 24, 2015, the parties entered into the Note,23 Hortonworks provided NVent an unsecured $2.5 million loan, at a fixed 4%, which was not subject to repayment until February 23, 2018.24 NVent alleges Hortonworks required NVent to accept the Note as a precondition to Hortonworks’ sending the promised $40 million business to NVent.25 NVent relied on this promise, and accepted the loan.26

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NVent, LLC v. Hortonworks, Inc., Counsel Stack Legal Research, https://law.counselstack.com/opinion/nvent-llc-v-hortonworks-inc-delsuperct-2017.