Oakeson v. Tbm Consulting Group, Inc.

2009 NCBC 23
CourtNorth Carolina Business Court
DecidedAugust 21, 2009
Docket08-CVS-3884
StatusPublished
Cited by2 cases

This text of 2009 NCBC 23 (Oakeson v. Tbm Consulting Group, Inc.) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Oakeson v. Tbm Consulting Group, Inc., 2009 NCBC 23 (N.C. Super. Ct. 2009).

Opinion

Oakeson v. TBM Consulting Group, Inc., 2009 NCBC 23.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION COUNTY OF DURHAM 08 CVS 3884

MARK W. OAKESON, ) Plaintiff ) ) v. ) ORDER ON MOTION TO DISMISS ) TBM CONSULTING GROUP, INC., ANAND ) SHARMA, GARY HOURSELT, WILLIAM ) SCHWARTZ and DAN SULLIVAN, ) Defendants )

THIS CAUSE, designated a mandatory complex business case by Order of the

Chief Justice of the Supreme Court of North Carolina, pursuant to N.C. Gen. Stat. § 7A-

45.4, and assigned to the undersigned Special Superior Court Judge for Complex

Business Cases by Order of the Chief Special Superior Court Judge for Complex

Business Cases, is before the court for determination of the Defendants’ Motion to

Dismiss (“Motion”) all but the First Cause of Action alleged in Plaintiff’s Complaint,

pursuant to the provisions of Rule 12(b)(6), North Carolina Rules of Civil Procedure

(“Rule(s)”); and

THE COURT, having considered the Defendants’ Motion, the arguments and

briefs in support of and in opposition to the Motion, and appropriate matters of record,

CONCLUDES that the Motion should be DENIED, for the reasons stated herein.

I.

PROCEDURAL BACKGROUND

[1] This civil action was filed by Plaintiff on July 3, 2008. As it currently is

postured, the Complaint alleges five Causes of Action (“Claim(s)”): First Claim – Breach of Contract; Second Claim – Breach of Implied Covenant of Good Faith and Fair

Dealing; Third Claim – Breach of Fiduciary Duty; Fourth Claim – Civil Conspiracy; and

Fifth Claim – Punitive Damages. 1

[2] Defendants seek dismissal of Claims Two through Five as a matter of law.

II.

FACTS

Among other things, the Complaint alleges that:

[3] Plaintiff Mark W. Oakeson (“Oakeson”) is a citizen and resident of Durham

County, North Carolina. At times material, he was an officer, shareholder and member

of the Board of Directors (“Board”) of Defendant TBM Consulting Group, Inc. (“TBM”).

[4] Defendant TBM is a Delaware corporation, with its principal place of

business in Durham County, North Carolina.

[5] Defendant Anand Sharma (“Sharma”) is and at all times relevant to this

action was the President, majority shareholder and a Board member of TBM, and was

acting as an agent of and with full authority of TBM.

[6] Defendant Gary Hourselt (“Hourselt”) is and at all times relevant to this

action was an officer, shareholder and Board member of TBM, and was acting as an

agent of and with the full authority of TBM.

[7] Defendant William Schwartz (“Schwartz”) is and at all times relevant to

this action was an officer, shareholder and Board member of TBM, and was acting as

an agent of and with the full authority of TBM.

1 The Complaint initially contained a Sixth Claim – Unfair and Deceptive Trade Practices. However, by notice dated September 24, 2008, Plaintiff voluntarily dismissed his Sixth Claim pursuant to Rule 41(a). [8] Defendant Dan Sullivan (“Sullivan”) is and at all times relevant to this

action was an officer, shareholder and Board member of TBM, and was acting as an

[9] In or about December 1992, Plaintiff and TBM entered into a written

shareholder agreement (“Shareholder Agreement”). 2 Under the terms of the

Shareholder Agreement, and in consideration therefore, Plaintiff became a twenty-two

percent (22%) shareholder in TBM; and was employed and compensated as Vice-

President and an employee of TBM.

[10] Plaintiff operated under the Shareholder Agreement until January 14,

2004, when the shareholders of TBM entered into a Waiver and Modification of

Shareholders Agreement (“Modified Shareholder Agreement”) 3 (the Shareholder

Agreement and the Modified Shareholder Agreement collectively are the “Shareholder

Agreements”), in order to allow certain shares of TBM to be transferred to a TBM

Employee Stock Ownership Plan (“ESOP”). Thereafter, while Plaintiff was still a

shareholder of TBM under the terms of the Modified Shareholder Agreement, the

Plaintiff and TBM entered into an Employment Agreement (“Employment Agreement”). 4

[11] As part of the consideration for the Employment Agreement, the Plaintiff

and TBM mutually agreed in writing as follows:

(a) Plaintiff’s term of employment was to be for a period of five (5)

years beginning on January 1, 2004, and ending on January 1, 2009.

(b) Plaintiff was to continue his role as the Vice-President of TBM.

2 Compl., Ex. A. 3 Id., Ex. B. 4 Id., Ex. C. (c) Plaintiff was to receive a guaranteed base salary of $330,000 per

year through January 1, 2009, plus bonus compensation as enumerated more

specifically in the Employment Agreement.

(d) Plaintiff was to receive medical benefits through January 1, 2009,

plus annual paid vacation, country club membership and 401K matching

contributions.

(e) The Employment Agreement could be terminated only by TBM “for

cause.” Specifically, paragraph 12 provides:

12. Termination by Company. Other than as described in paragraph 5 or paragraph 11 hereof, this Agreement may be terminated by the company only for cause at any time by giving thirty days written notice of termination to the Employee. “Cause” for termination of the employee by the company shall be limited to:

a. refusal to carry out the legitimate, proper and material duties assigned to him by the board of directors of the Company, which refusal shall have continued for a period of at least thirty (30) days, or breach of any one or more of the material provisions of this Agreement, which failure, refusal or breach shall have continued for a period of at least thirty (30) days after such notice from the Company describing such failure, refusal or breach in reasonable detail; b. conviction of, or pleading guilty or nolo contendere to any felony; c. final judgment by any court of competent jurisdiction that the Employee has committed an act or omission of willful malfeasance or any act of fraud, embezzlement, misappropriation of funds, breach of fiduciary duty or other act of dishonesty against the Company or any affiliate, any customer or supplier of the Company or any affiliate, or any shareholder or employee of the Company or any affiliate. [12] Thereafter, Plaintiff continued as a thirteen and one-half percent (13.5%)

shareholder of TBM, a Board member of TBM and as Vice-President of Global

Consulting for TBM.

[13] Throughout 2004, Sharma consistently requested that Plaintiff restructure

the Shareholder Agreements with TBM, which Plaintiff refused to do.

[14] The domestic consulting work by TBM was split into two teams, US East

and US West. Plaintiff was placed in charge of the US East team with five consulting

teams directly under his management and supervision, and Sullivan was placed in

charge of the US West team. Plaintiff alleges that his global consulting obligations, field

contact and opportunities were drastically reduced as a result of this assignment.

[15] In mid-2004, Sharma shifted two US East consulting teams under Plaintiff

to the US West team.

[16] Shortly thereafter, Sharma indicated that the Plaintiff would no longer be

responsible for managing any consulting teams and that Plaintiff’s title was being

changed to “Vice-President of Client Development,” a new position that had not

previously existed.

[17] Throughout the remainder of 2004 and 2005, Sharma continued to

request that the Plaintiff restructure his Employment Agreement and Shareholder

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