Treece v. Advisors Excel, LLC

2026 NCBC 26
CourtNorth Carolina Business Court
DecidedMarch 19, 2026
Docket25-CVS-7146
StatusPublished
AuthorMatthew T. Houston

This text of 2026 NCBC 26 (Treece v. Advisors Excel, LLC) 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
Treece v. Advisors Excel, LLC, 2026 NCBC 26 (N.C. Super. Ct. 2026).

Opinion

Treece v. Advisors Excel, LLC, 2026 NCBC 26.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION CABARRUS COUNTY 25CV007146-120

CHARLES ANTHONY TREECE,

Plaintiff, ORDER AND OPINION v. ON DEFENDANT’S MOTION TO DISMISS ADVISORS EXCEL, LLC,

Defendant.

1. This matter is before the Court on the Rule 12(b)(6) motion to dismiss

filed by defendant Advisors Excel, LLC, which seeks dismissal of all causes of

action asserted by plaintiff Charles Anthony Treece in this action. (ECF No. 11).

2. The parties have fully briefed the motion, (ECF Nos. 12, 13, and 14),

and the Court dispenses with oral argument pursuant to Rule 7.4 of the Business

Court Rules.

3. Having considered the complaint and the written arguments of counsel,

the Court hereby GRANTS the motion to dismiss and DISMISSES Plaintiff’s

causes of action for the reasons set forth in this Order and Opinion.

McTier Law, by Ty McTier, for Plaintiff Charles Anthony Treece.

Lord & Lindley, PLLC, by Trey Lindley, for Defendant Advisors Excel, LLC.

Houston, Judge.

I. BACKGROUND

4. The Court does not make findings of fact on a Rule 12(b)(6) motion to

dismiss. Instead, for background, the Court summarizes the complaint’s factual allegations that are most relevant to the Court’s decision and accepts the well-

pleaded factual allegations as true for purposes of this Order and Opinion.

5. Plaintiff is a citizen and resident of Cabarrus County, North Carolina,

who previously owned a “Financial Advising Firm.” (ECF No. 8, ¶¶ 1, 4). 1

6. Defendant is a Kansas-based limited liability company. (ECF No. 8, ¶ 2).

7. Though the nature of Defendant’s business is unspecified, around the

spring of 2024, Plaintiff negotiated the sale of his firm “through one of

[Defendant’s] platforms.” (ECF No. 8, ¶ 4).

8. Defendant’s policy at that time was that it would not share personal

information concerning Plaintiff’s clients without his knowledge and permission.

(ECF No. 8, ¶ 5). Plaintiff does not, however, directly allege that he shared a client

list with Defendant or even that he uploaded it to one of Defendant’s “platforms”

on which he otherwise negotiated the sale of his firm.

9. Nonetheless, in April 2024, non-party Jacob Tolley approached Plaintiff

with his laptop and displayed Plaintiff’s “full client list” on the laptop. (ECF No.

8, ¶ 6). Tolley’s relationship to the parties is unspecified, though he was not

employed by, or an owner of, Defendant and “never would have had access to

[Plaintiff’s] clients.” (ECF No. 8, ¶ 9).

10. Plaintiff alleges, upon information and belief, that Tolley knew “key

employees at Advisors Excel” and, in turn, passively asserts that Tolley “was

1 Plaintiff’s complaint is filed on the Court’s docket at both ECF No. 3 and ECF No. 8, with

both documents appearing to be the same document in substance. Accordingly, for ease of reference, the Court cites to ECF No. 8. improperly given the Client List.” (ECF No. 8, ¶ 7). Plaintiff does not specify whom

he believes actively provided the list to Tolley and instead conclusorily asserts

that Tolley “could have been one of many” people to whom his client list was

purportedly disclosed. (ECF No. 8, ¶¶ 7–8).

11. As a result, Plaintiff sold his firm and related client list for what he

contends was “far less than the true value[.]” (ECF No. 8, ¶ 9).

12. Plaintiff filed suit on 9 September 2025, asserting causes of action for (i)

misappropriation of trade secrets and (ii) unfair or deceptive trade practices under

Chapter 75 of the North Carolina General Statutes. (ECF No. 8, ¶¶ 10–21). In

support of these causes of action, Plaintiff asserts in a conclusory fashion that the

client list was “a trade secret that [he] protected vigilantly,” that he did not give

Defendant permission to share the list, and that Defendant willfully, maliciously,

and “in conscious disregard of Plaintiff’s rights” misappropriated the list. (ECF

No. 8, ¶¶ 11–16). Further, Plaintiff claims that Defendant “engaged in unfair and

deceptive trade practices by misappropriating confidential information, records,

and Plaintiff’s book of clients.” (ECF No. 8, ¶ 18).

13. In turn, Defendant moved to dismiss the complaint pursuant to Rule

12(b)(6) of the North Carolina Rules of Civil Procedure. (ECF Nos. 12, 13, and 14).

II. ANALYSIS

14. When considering a Rule 12(b)(6) motion, the Court treats the limited

well-pleaded factual allegations as true and views them “in the light most

favorable to the non-moving party.” Sykes v. Health Network Sols., Inc., 372 N.C. 326, 332 (2019) (citation omitted); Christenbury Eye Ctr., P.A. v. Medflow, Inc.,

370 N.C. 1, 5 (2017). The Court must determine “whether the allegations of the

complaint, if treated as true, are sufficient to state a claim upon which relief can

be granted under some legal theory.” Corwin v. Brit. Am. Tobacco PLC, 371 N.C.

605, 615 (2018) (citation omitted); Forsyth Mem’l Hosp. v. Armstrong World

Indus., 336 N.C. 438, 442 (1994).

15. With respect to Plaintiff’s misappropriation of trade secrets cause of

action, Defendant contends that Plaintiff has failed to plead (i) misappropriation

of trade secrets with the requisite particularity, (ii) facts alleging that the client

list contained information not readily accessible to Defendant, (iii) facts

demonstrating reasonable efforts to maintain the client list as secret, and (iv) facts

demonstrating misappropriation by Defendant. (ECF No. 12 at 4–10).

16. Further, Defendant asserts that Plaintiff’s cause of action for alleged

violations of Chapter 75 fails because it is premised entirely on the deficient

misappropriation of trade secrets cause of action. (ECF No. 12 at 10).

A. Misappropriation of Trade Secrets

17. In his complaint, Plaintiff does not refer to a particular statute or other

basis in support of a misappropriation of trade secrets claim. (See generally ECF

No. 8). In his brief, however, Plaintiff clarifies that this cause of action is premised

on alleged violations of the North Carolina Trade Secrets Protection Act, N.C. Gen.

Stat. § 66-152, et seq. (ECF No. 13 at 4–7). 18. To state a claim for misappropriation of trade secrets under that statute,

a plaintiff must allege that the defendant (i) “[k]nows or should have known of the

trade secret,” and (ii) “[h]as had a specific opportunity to acquire it for disclosure

or use or has acquired, disclosed, or used it without the express or implied consent

or authority of the owner.” Krawiec v. Manly, 370 N.C. 602, 608–09 (2018) (quoting

N.C. Gen. Stat. § 66-155 (internal quotation marks omitted)).

19. A trade secret is defined as

business or technical information, including but not limited to a formula, pattern, program, device, compilation of information, method, technique, or process that:

a. Derives independent actual or potential commercial value from not being generally known or readily ascertainable through independent development or reverse engineering by persons who can obtain economic value from its disclosure or use; and

b. Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.

N.C. Gen. Stat. § 66-152(3).

20. In deciding whether information constitutes a trade secret, courts

consider

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2026 NCBC 26, Counsel Stack Legal Research, https://law.counselstack.com/opinion/treece-v-advisors-excel-llc-ncbizct-2026.