Rossi v. Purvis

CourtDistrict Court, N.D. California
DecidedJanuary 29, 2024
Docket5:23-cv-04148
StatusUnknown

This text of Rossi v. Purvis (Rossi v. Purvis) is published on Counsel Stack Legal Research, covering District Court, N.D. California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Rossi v. Purvis, (N.D. Cal. 2024).

Opinion

1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 7 EDWARD ROSSI, et al., Case No. 23-cv-04148-PCP

8 Plaintiffs, ORDER GRANTING MOTION TO 9 v. COMPEL ARBITRATION IN PART AND DENYING LEAVE TO AMEND 10 REUBEN TIMOTHY PURVIS, III, et al.,

Defendants. 11

12 13 Plaintiffs in this matter are a company named StormQuant and one of its major 14 shareholders, Edward Rossi. Defendants are StormQuant’s former CEO Reuben Timothy Purvis 15 III, his wife Heather Purvis, and an LLC established by Mr. and Mrs. Purvis. In response to this 16 lawsuit, defendants moved to compel the arbitration of plaintiffs’ claims in this federal action as 17 well as plaintiffs’ claims in a pending state court lawsuit. Defendants do so on the basis of an 18 arbitration provision in a 2021 agreement between Mr. Purvis and StormQuant that Mr. Rossi 19 signed on StormQuant’s behalf. 20 In response to defendants’ motion, plaintiffs argue that the 2021 agreement and its 21 arbitration provision are not enforceable, that Mrs. Purvis and the LLC cannot rely upon the 22 agreement to require arbitration of the claims against them because they are not signatories, and 23 that the provision does not encompass the disputes presented here. For the reasons set forth below, 24 the Court concludes that the arbitration provision is enforceable and that it covers all of the claims 25 in this action, including the claims against non-signatory parties. The Court, however, cannot 26 enjoin the state court’s consideration of the claims pending in that separate action. Defendant’s motion is therefore granted in part and denied in part. Plaintiffs’ motion for leave to file an 27 1 I. Background 2 Except as indicated, the following facts are not disputed. 3 StormQuant was founded as a limited liability company in 2017. Mr. Rossi was an angel 4 investor but not an employee or an executive of StormQuant. He invested $800,000 by 2018. 5 Mr. Purvis became CEO of StormQuant in January 2019. Like the other founders and 6 executives, he was paid solely via consulting fees pursuant to a consulting agreement. Those 7 payments were made to defendant Collis Systems, the LLC controlled by Mr. Purvis and his wife. 8 StormQuant was reorganized as a Delaware corporation, StormQuant, Inc., around the 9 same time. As part of this process, Mr. Purvis sought to transfer assets from StormQuant LLC to 10 StormQuant, Inc., and to make himself a shareholder. Mr. Rossi says he learned about the creation 11 of StormQuant, Inc. that month and “immediately objected and demanded a further explanation.” 12 Dkt. No. 1, at ¶ 29. 13 In March 2019, an outside investor committed to investing $5 million in StormQuant. Dkt. 14 No. 21-14, at 8. 15 In April 2019, the StormQuant board of directors approved resolutions that, among other 16 things, authorized the company to enter into indemnification with directors and officers and 17 employment agreements with employees. See Dkt. No. 22-1, at 37–41. According to the 18 complaint, Mr. Purvis had previously authorized preparation of employment agreements for 19 himself and several other executives. Mr. Purvis’s employment agreement provided an annual 20 salary of $180,000, certain additional benefits, a grant of one million shares to Mr. and Mrs. 21 Purvis, and twelve months of severance pay. Mr. Purvis’s employment agreement was executed in 22 April 2019. Mr. Rossi says he did not know about these developments at the time. 23 Sometime in June 2019, the outside investor signed a term sheet regarding the anticipated 24 $5 million investment. That same month, after “several months of negotiations,” Mr. Rossi agreed 25 to accept 3.25 million shares of StormQuant, Inc. in exchange for his interest in the original LLC, 26 which would be shut down after all of its assets were transferred to the corporation. Mr. Rossi says 27 he did not know about the employment agreements with Mr. Purvis and the other executives and 1 became a board member around June 2019. In preparation for his joining the board, Mr. Purvis 2 emailed Mr. Rossi a copy of the board’s April 2019 resolutions, which included the authorization 3 to enter into indemnification and employment agreements and blank copies of those agreements. 4 Dkt. No. 22-1, at 235. Mr. Purvis says that Mr. Rossi also entered into an indemnification 5 agreement with StormQuant, Inc. in June 2019. Id. at 4. 6 On July 26, 2019, the expected outside investment in StormQuant fell through. Mr. Rossi, 7 however, continued investing in StormQuant, contributing a total of over $2 million since April 8 2019. Mr. Rossi says that throughout this time, Mr. Purvis did not tell him about the existence of 9 potential liability under the employment agreements. In December 2020, for example, Mr. Purvis 10 sent documents to Mr. Rossi representing that StormQuant had no outstanding obligations above 11 $50,000. From April 2019 until December 2022, no payments were made under the employment 12 agreements directly to Mr. Purvis or any of the other executives, but payments ultimately totaling 13 $100,000 continued to be made to Collis Systems (Mr. Purvis’s LLC). 14 In June 2020, Mr. Rossi emailed Mr. Purvis asking about the “current salary’s [sic]” for 15 executives, including Mr. Purvis, who were being considered for executive compensation plans 16 including stock options. Dkt. No. 22-1, at 238. Mr. Rossi stated that he “assume[d]” those salaries 17 were “currently being deferred and accrued for.” Id. Mr. Purvis responded that the “current salary 18 structure” had not been modified since 2019 and provided Mr. Purvis a “$180K” salary. 19 By early 2021, a dispute arose with one of the other founders of StormQuant, and that 20 founder demanded payment under the terms of his employment agreement. Mr. Rossi alleges that 21 this is the first time he learned about the employment agreements with Mr. Purvis and others. On 22 February 4, 2021, Mr. Rossi emailed Mr. Purvis and asked, “Did you have any written 23 employment agreement signed by [the other founder]?” Dkt. No. 21-13, at 3. Mr. Purvis 24 responded that he and the other executives and founders “were paid to our respective LLCs or side 25 company,” and that the “contracts that [sic] created in February of 2019 would only be executed 26 when we received our seed funding round so that we could start normal payroll, benefits, etc.” Id. 27 at 2. Mr. Purvis also said he would “get a second opinion from our employment attorney.” Id. 1 payments to Mr. Purvis’s LLC. Mr. Rossi says that Mr. Purvis then proposed that he forego 2 further compensation (including consulting fees) in exchange for additional StormQuant shares. 3 On December 7, 2021, Mr. Purvis and StormQuant executed a Restricted Stock Purchase 4 Agreement (RSPA) in which Mr. and Mrs. Purvis purchased an additional 2.25 StormQuant shares 5 for $22.50. Mr. Rossi signed the agreement on behalf of StormQuant as a director. Dkt. No. 12-1, 6 at 20. Mr. Rossi says he did so with the “understanding that (i) Purvis was foregoing any future 7 consulting payments or other compensation; and (ii) the Employment Agreements, including 8 Purvis Employment Agreement, were not valid or enforceable.” Dkt. No. 1, at ¶ 49. Mr. Rossi 9 says that he “would not have executed the Restricted Stock Purchase Agreement … if he thought 10 Purvis considered the employment agreements to be legally binding.” Id. 11 The RSPA between Mr. Purvis and StormQuant included an arbitration provision. It reads:

12 (1) Arbitration.

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Rossi v. Purvis, Counsel Stack Legal Research, https://law.counselstack.com/opinion/rossi-v-purvis-cand-2024.