Riverside Strategic Capital Fund I v. CLG Investments

2025 Tex. Bus. 33
CourtTexas Business Court
DecidedAugust 19, 2025
Docket25-BC01B-0006
StatusPublished
Cited by2 cases

This text of 2025 Tex. Bus. 33 (Riverside Strategic Capital Fund I v. CLG Investments) is published on Counsel Stack Legal Research, covering Texas Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Riverside Strategic Capital Fund I v. CLG Investments, 2025 Tex. Bus. 33 (Tex. Super. Ct. 2025).

Opinion

FILED IN BUSINESS COURT OF TEXAS BEVERLY CRUMLEY, CLERK ENTERED 8/19/2025

2025 Tex. Bus. 33

The Business Court of Texas, 1st Division

RIVERSIDE STRATEGIC CAPITAL § FUND I, L.P.; RSCF BLOCKER § TRUE HEALTH, LLC; and RSCF I-A § BLOCKER TRUE HEALTH, LLC, § Plaintiffs, § v. § Cause No. 25-BC01B-0006 § CLG INVESTMENTS, LLC; § CHRISTOPHER § GROTTENTHALER; COVERT § INVESTMENT OPERATIONS, LLC; § TRUE HEALTH DIAGNOSTIC § MANAGEMENT LLC; L. RICHARD § COVERT; LCG VENTURES II, LLC; § FERNANDO DE LEON; TIMOTHY § TATROWICZ ALBA DURATA, § LLC; TOM D. WIPPMAN, in his § capacity as TRUSTEE OF THE TOM § D. WIPPMAN REVOCABLE § TRUST; MARK THOMAS SMITH; § ALEXANDRA NETTESHEIM; § KYLE NETTESHEIM; ROBERT J. § OSTERHOFF; RJ INVESTMENTS; § MATT MILBURN; MICHAEL A. § CLEMENTS; MICHAEL § OSTERHOFF; MELINDA L. § MILBURN; KAREN A. MILLER; § JACK NOVAK; EDWARD MCCAN; § DANIEL GROTTENTHALER; § ANITA GROTTENTHALER; DANA § M. HOVIND; CHRISTIAN § RICHARDS; CHRISTOPHER W. § KLING; in his capacity as TRUSTEE § OF CHRISTOPHER W. & MARISSA § M. KLING REV TRUST U/A/D § 5/11/2012; KEVIN M. NELLIS; § CAROL A. NELLIS; BRUCE § ZIVIAN; RYAN NELLIS; and § ANCELMO E. LOPES, Defendants §

═══════════════════════════════════════ MEMORANDUM OPINION ═══════════════════════════════════════

[¶ 1] Defendants Tom Wippman, Mark Thomas Smith, Alexandra

Nettesheim, Kyle Nettesheim, Robert Osterhoff, RJ Investments, Matt

Milburn, Michael Clements, Michael Osterhoff, Karen Miller, Edward

McCann, Daniel Grottenthaler, Anita Grottenthaler, Christian Richards,

Christopher Kling, Kevin Nellis, Carol Nellis, Bruce Zivian, Ryan Nellis, and

Ancelmo E. Lopes 1 filed a special appearance.

1 Referred to herein as “OSDs,” meaning out-of-state defendants.

MEMORANDUM OPINION, Page 2 [¶ 2] Having considered the special appearance, response, pleadings,

materials on file, and counsels’ arguments, the court concluded that it lacked

personal jurisdiction over those defendants, granted their special appearance,

and dismissed without prejudice the claims against them on July 17, 2025.

[¶ 3] The court concluded that the special appearance should be granted

because (i) plaintiffs failed to comply with the pleading requirements stated in

Kelly and (ii) there are no allegations or evidence that any Out-of-State

Defendant purposefully availed itself of Texas by contacting the forum and

those contacts gave rise to this suit. In other words, it is not enough that

defendants invested in a company that may have been headquartered in Texas

and that plaintiffs’ claims are premised on allegations that the company

violated healthcare laws in Texas (and elsewhere) where no alleged fraudulent

misrepresentation occurred in, was purposefully directed at, or was

communicated to individuals in Texas.

[¶ 4] Further, this action arises from plaintiffs’ investment in the

company (and alleged misrepresentations in the investment agreement), not

defendants’ investment. Plaintiffs’ investment agreement was with a

Delaware entity, was governed by Delaware law, and did not require any party

to perform any act in Texas. It is not alleged to have been negotiated in Texas

MEMORANDUM OPINION, Page 3 or particularly contemplate Texas as the nexus of activities. That

representations of the company’s compliance with healthcare laws may have

allegedly been untrue in Texas (and elsewhere) is a fortuitous contact with the

state because the company operated beyond Texas. Accordingly, these

defendants’ contacts with Texas are insufficient to support this court’s

personal jurisdiction over them in this action.

I. BACKGROUND

A. Plaintiffs’ Allegations

[¶ 5] Plaintiffs Riverside Strategic Capital Fund I, L.P.; RSCF Blocker

True Health, LLC; and RSCF I-A Blocker True Health, LLC (Riverside) filed

this lawsuit against over thirty defendants in the 298th Judicial District Court

of Dallas County, Texas.2 A subset of defendants removed to this court. 3

[¶ 6] Riverside alleges that it was defrauded in connection with an

initial $50 million investment in True Health Group LLC (THG) in 2017. 4 As

part of its investment, Riverside entered into a Securities Purchase Agreement

(SPA) with defendants that contained representations concerning THG’s

2 See generally Plaintiffs’ Original Petition (Pet.). 3 See generally Defendants LCG Ventures, LLC, LCG Ventures II, LLC, and Leon Capital Partners, LLC’s Notice of Removal. 4 Pet. ¶ 1.

MEMORANDUM OPINION, Page 4 compliance with “applicable Healthcare Laws.” 5 Riverside alleges it later

learned that those representations were false, resulting in THG’s bankruptcy

and the loss of more than $84 million due to defendants’ fraud. 6

B. Jurisdictional Facts

[¶ 7] The court considers allegations contained in Riverside’s petition

and related evidence submitted in response to the OSDs’ special appearance.

See Kelly v. General Interior Const., Inc., 301 S.W.3d 653, 658–59 (Tex. 2010).

The court does not consider allegations made outside the petition and only

considers additional evidence to the extent it supports or undermines the

petition’s allegations. Id.

[¶ 8] Below are the allegations and evidence material to this opinion.

The court considered every allegation contained within Riverside’s pleadings,

as well as all the evidence submitted by the parties on these issues framed by

the pleadings.

5 Pet. ¶ 1. 6 Pet. ¶s 3–6.

MEMORANDUM OPINION, Page 5 1. Plaintiffs’ Live Pleading

[¶ 9] Riverside’s petition is devoid of specific jurisdictional allegations

as to any OSD, alleging only that “[t]his Court has personal jurisdiction over

[the defendants] . . . pursuant to [the Texas Long-Arm Statute]” and that

defendants “engaged in business in Texas.”7

[¶ 10] Riverside later relied on allegations that True Health

Diagnostics, LLC (THD), THG’s predecessor, and THG itself had business

operations in Texas with Texas hospitals, and that defendants knew of THG’s

business in Texas when they chose to invest in the company. 8

[¶ 11] Riverside also relied on allegations that defendants designated

CLG Investments, LLC as their agent and attorney-in-fact regarding to the

SPA. 9 Riverside alleged that CLG is a Delaware limited liability company with

its principal place of business in Frisco, Texas and Christopher Grottenthaler

its managing member.10 Grottenthaler in turn was THG’s founder and CEO

7 Pet. ¶s 14–47, 49. 8 See, e.g., Pet. ¶ 57. 9 Pet. ¶ 64. 10 Pet. ¶s 14, 64.

MEMORANDUM OPINION, Page 6 and pled guilty in 2024 to criminal charges for conspiracy to violate certain

healthcare laws.11

[¶ 12] Finally, Riverside admitted that each OSD was the citizen of a

state other than Texas.12

2. Jurisdictional Evidence 13

[¶ 13] As part of their special appearance, each OSD offered a

declaration that they were not a Texas citizen, did not reside in Texas when

the SPA was signed, and made his or her investment 14 from their home states

11 Pet. ¶ 3. 12 Pet.

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

Related

Cite This Page — Counsel Stack

Bluebook (online)
2025 Tex. Bus. 33, Counsel Stack Legal Research, https://law.counselstack.com/opinion/riverside-strategic-capital-fund-i-v-clg-investments-texbizct-2025.