Steven Bagot, Respondent/cr-appellant V. Smrb, Llc, Appellant/cr-respondents

CourtCourt of Appeals of Washington
DecidedApril 15, 2024
Docket84440-7
StatusUnpublished

This text of Steven Bagot, Respondent/cr-appellant V. Smrb, Llc, Appellant/cr-respondents (Steven Bagot, Respondent/cr-appellant V. Smrb, Llc, Appellant/cr-respondents) is published on Counsel Stack Legal Research, covering Court of Appeals of Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Steven Bagot, Respondent/cr-appellant V. Smrb, Llc, Appellant/cr-respondents, (Wash. Ct. App. 2024).

Opinion

IN THE COURT OF APPEALS OF THE STATE OF WASHINGTON

STEVEN BAGOT, No. 84440-7-I (consolidated with Respondent, No. 84905-1-I)

v. DIVISION ONE

SMRB, LLC, a Washington Limited UNPUBLISHED OPINION Liability Company d.b.a. GREEN ACRE PHARMS; and ROBERT RUSSELL,

Petitioners,

RENEWABLE TECHNOLOGIES SOLUTION, INC., a Nevada Corporation; GREEN ACRES PHARMS, LLC, a Washington Limited Liability Company; and GUY GRIFFITHE,

Defendants.

CHUNG, J. — Steven Bagot sued Roger Russell and others in Skagit

County, alleging breach of contract, fraud, misrepresentation, civil conspiracy,

and other claims related to several payments he made to invest in a cannabis

operation. The parties settled and stipulated to dismissal with prejudice. Bagot

then filed another lawsuit, this time in King County, against the same parties

alleging the same causes of action and an additional claim under the Washington

Securities Act. Except for the Securities Act violation, the trial court granted

summary judgment dismissing all claims on the grounds of claim preclusion. No. 84440-7-I/2 (consol. with No. 84905-1-I)

Bagot and Russell each filed motions for discretionary review of the

court’s summary judgment rulings based on the claim preclusion doctrine. A

commissioner of this court granted review only as to Russell’s motion, which

sought review of the trial court’s denial of summary judgment dismissal of the

Securities Act claim. We conclude the trial court erred by denying summary

judgment on the Securities Act claim and reverse.

FACTS

Robert Russell and his wife formed SMRB, LLC in 2013 and were its sole

members. In 2015, SMRB 1 received a Washington state license to produce and

process cannabis at a facility in Anacortes, Washington. After SMRB began

operating, Russell determined the company needed a larger space and began

exploring sources of funding. Guy Griffithe and his company Renewable

Technologies Solutions, Inc. (RTSI) expressed interest in investing. 2 Russell and

Griffithe entered an agreement in which RTSI paid $1.5 million to purchase 49

percent of the net profits distributed to Russell by SMRB. The agreement

expressly provided that RTSI did not acquire an ownership interest and would not

be a shareholder in SMRB. The agreement acknowledged that RTSI intended to

1 SMRB also has a registered d.b.a. of “Green Acre Pharms.” 2 According to Griffithe, in late 2016 or early 2017, he converted the membership

interests in RTSI’s profit rights into membership interests in a Nevada LLC called Green Acres Pharms, with the sole function of serving “as a vehicle for the sale of profit rights and the distribution of profits to the holders of those rights.” The record is inconsistent as to whether Griffithe’s entity is Green Acres Pharms or Green Acre Pharms. Griffithe’s Green Acres Pharms LLC is a separate entity from SMRB’s Green Acre Pharms. Russell was never a member of Griffithe’s LLC and has never acted on its behalf.

2 No. 84440-7-I/3 (consol. with No. 84905-1-I)

sell portions of this “dividend interest” in order to fund the purchase. Russell and

SMRB would have no role in these sales.

In March 2017, Steven Bagot, a California resident, entered into a

“subscription agreement” with RTSI to purchase four percent of the company for

$450,000. Under the subscription agreement, Bagot would receive four percent

of the net dividend interest paid to RTSI by SMRB. On October 10, 2017, Bagot

signed a promissory note agreeing to provide Green Acres Pharms, 3 Griffithe,

and Russell with $100,000, and they agreed to repay the principal within 90

days. 4 The note further provides that interest is payable “on the unpaid principal

at the rate of 10% for 90 calendar days, calculated monthly not in advance,” and

“for every month thereafter there will be a $4,500.00 a month penalty or $150.00

per day.” The promissory note included personal guarantees by Griffithe and

Russell. However, only Bagot and Griffithe, for himself and on behalf of Green

Acres Pharms, signed the note.

Bagot followed this promissory note with a letter of understanding (LOU)

signed by Griffithe on November 26, 2017. The LOU confirmed that Bagot

intended to purchase an additional two percent interest in RTSI for $200,000,

increasing his total ownership to six percent “representing 6% of the net income

or sale of the business of Green Acres Pharm and SMRB, to be paid quarterly.”

The LOU further provided that a portion of the investment 5 was to be used only

3 The promissory note does not specify whether the Green Acres Pharms named is the

d.b.a. of SMRB or Griffithe’s LLC. While SMRB’s entity is named Green Acre Pharms, the record confusingly refers to it as Green Acres Pharms. 4 In one place, the note misstates the principal amount as “$100,000,00.00 USD.” 5 Paragraph 2 of the LOU states that “the $200,000 being invested will be used only for the

completion of the cryogenic oil processing machine purchase,” while paragraph 3 states “[t]he overall intent is for $100,000 of the $200,000 investment be used toward the cryogenic oil machine

3 No. 84440-7-I/4 (consol. with No. 84905-1-I)

for the completion of a cryogenic oil processing machine purchase, and if

sufficient funds were not raised to complete the purchase within two weeks “that

deal will be considered ‘dead’ and all monies returned.” Additionally, after

purchase of the equipment, Bagot was to be repaid under the terms of the

promissory note: “The overall intent is for $100,000 of the $200,000 investment

be used toward the cryogenic oil machine purchase, and the other $100,000 be

used to repay the October 10, 2017 promissory note.” Within days of the LOU,

Bagot and Griffithe entered into a second subscription agreement for purchase of

the additional six percent for $200,000.

Bagot did not receive repayment for the money loaned under the terms of

the promissory note when it became due on January 8. RTSI also failed to make

regular disbursements or provide accounting related to Bagot’s six percent

interest. Bagot retained counsel, who sent a notice of default with a demand for

payment on the promissory note in January 2018. In April 2018, after having

received no response to his demand, Bagot filed suit against SMRB d.b.a. Green

Acres Pharms, Russell, Griffithe, RTSI, and Green Acres Pharms in Skagit

County Superior Court. Bagot raised ten claims: breach of contract, unjust

enrichment, fraud, negligent misrepresentation, conversion, promissory estoppel,

civil conspiracy, breach of fiduciary duty, breach of good faith and fair dealing,

and violation of Washington’s Limited Liability Company (LLC) Act records

disclosure requirements.

purchase . . . .” Reading the LOU as a whole, paragraph 2 appears to contain a scrivener’s error and should state that $100,000 is for the machine purchase.

4 No. 84440-7-I/5 (consol. with No. 84905-1-I)

The parties entered into a settlement agreement on July 23, 2018.

Russell, Griffithe, and the defendant companies agreed to pay $139,887.50 to

Bagot. In turn, Bagot agreed to dismiss the claims with prejudice. Specifically, the

settlement agreement provided that Bagot

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