Xiansong Liu v. Hongye Li and North Pacific LLC

CourtDistrict Court, N.D. Illinois
DecidedJanuary 23, 2026
Docket1:24-cv-06422
StatusUnknown

This text of Xiansong Liu v. Hongye Li and North Pacific LLC (Xiansong Liu v. Hongye Li and North Pacific LLC) is published on Counsel Stack Legal Research, covering District Court, N.D. Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Xiansong Liu v. Hongye Li and North Pacific LLC, (N.D. Ill. 2026).

Opinion

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION

) XIANSONG LIU, ) ) Plaintiff, ) ) No. 24-cv-6422 v. ) ) Judge April M. Perry HONGYE LI, and NORTH PACIFIC LLC, ) a Delaware limited liability company, ) ) Defendants. ) )

OPINION AND ORDER Plaintiff Xiansong Liu, a real estate broker living in Chicago, brings this action against Defendants Hongye Li (“Defendant”), a resident of China, and North Pacific LLC, a Delaware company. Plaintiff alleges that Defendant presented herself to Plaintiff as a skilled equities trader and manager of a profitable investment fund. In March 2024, Plaintiff executed an investment agreement with North Pacific LLC and transferred $370,000 to Defendant’s bank account. Three months later, Defendant told Plaintiff that the fund was liquidating and returned just $51,126 of Plaintiff’s investment. The gravamen of Plaintiff’s complaint is that Defendant defrauded him into making his investment based on false representations about the fund and Defendant’s trading prowess. Before this Court is Defendant’s motion to dismiss Plaintiff’s complaint for lack of personal jurisdiction under Rule 12(b)(2) or, in the alternative, for an evidentiary hearing. Doc. 55. For the following reasons, Defendant’s motion is denied. LEGAL STANDARD When a defendant challenges personal jurisdiction under Rule 12(b)(2), the plaintiff bears the burden of affirmatively establishing personal jurisdiction. Purdue Rsch. Found. v. Sanofi- Synthelabo, S.A., 338 F.3d 773, 782 (7th Cir. 2003). To decide whether jurisdiction exists, a court may reach beyond the complaint’s allegations and consider evidence submitted by the

parties. Curry v. Revolution Labs., 949 F.3d 385, 393 (7th Cir. 2020). A court may resolve a Rule 12(b)(2) motion based solely on the parties’ written materials, and in such cases the plaintiff “need only make out a prima facie case of personal jurisdiction.” Hyatt Int’l Corp. v. Coco, 302 F.3d 707, 713 (7th Cir. 2002). In this posture, courts “take as true all well-pleaded facts alleged in the complaint and resolve any factual disputes in the affidavits in favor of the plaintiff.” Tamburo v. Dworkin, 601 F.3d 693, 700 (7th Cir. 2010). However, if the evidence presents material factual disputes, an evidentiary hearing is then appropriate. Hyatt, 302 F.3d at 713. At such a hearing, “the plaintiff must establish jurisdiction by a preponderance of the evidence.” Purdue Rsch., 338 F.3d at 782.

PERSONAL JURSDICTION FACTS Plaintiff is a real estate broker who lives and works in Chicago. Doc. 56-1 at 2. Defendant is a Chinese national who has lived in China since April 2021 and last lived in Illinois in June 2020. Doc. 22-1 ¶¶ 2–3. In 2023, Plaintiff and Defendant met virtually through a mutual acquaintance. Doc. 56-1 at 2. The reason for the introduction was for Plaintiff to help Defendant manage a condominium Defendant owned in Chicago. Id. Because Defendant lived in China at the time, the parties primarily communicated through WeChat, a Chinese mobile app with a messaging function. Id. at 3.

2 On January 3, 2024, the parties met in person while Plaintiff was on vacation in China. Doc 56-1 at 4; Doc. 22-1 ¶ 4. At this meeting, Defendant shared with Plaintiff that she had graduated from business school in Chicago and was an equities trader with AMC China, a Chinese asset management firm. Doc. 56-1 at 4. Defendant attests it was at this meeting that Plaintiff first learned of Defendant’s participation in an investment group comprised of

Defendant and a few of her close friends. Doc. 22-1 ¶¶ 5–6. Defendant further attests that some members of the group invest together as North Pacific LLC in order to access U.S. markets. Id. After Plaintiff’s departure from China, the parties continued to communicate through WeChat. The chat records show that throughout January, the parties discussed Defendant connecting Plaintiff with a TikTok/Douyin executive in need of commercial real estate assistance. Doc. 56-1 at 72–81, 83. Defendant proposed she should earn a commission for connecting Plaintiff to the executive and forwarded Plaintiff draft agreements outlining payment terms. Id. at 77–79. No agreement was signed or commission paid for this proposed deal. See id. at 5.

On February 4, 2024, Plaintiff asked Defendant for advice on whether to purchase a Nvidia call option.1 Id. at 80. Defendant advised Plaintiff against the purchase due to the option’s limited appreciation potential. Id. Plaintiff then sent a screenshot of a different option to Defendant that he intended to buy instead. Id. at 81. Defendant told Plaintiff this option was satisfactory and then shared that she had bought a Nvidia call option the week before and seen the price triple. Id. at 81. Plaintiff responded that he was impressed by the threefold gain, to

1 Nvidia is a U.S. technology company. A call option is a financial contract that gives the option-holder the right, but not obligation, to buy a share of stock at a specific price before some future date.

3 which Defendant explained that she had been in the option business for a long time and was aiming for up to tenfold return for the month of February. Id. at 81–82. To this, Plaintiff expressed awe, noting, “One month? 10 times? OMG. I’m honestly getting a little tempted just listening to this—I might jump in first thing at market open tomorrow.” Id. at 82. Plaintiff then asked Defendant if he could follow her trades. Id. at 83. Defendant

responded that she already had “people giving me money to trade” and lacked capacity to take on other investors and could not “squeeze [Plaintiff] in” beyond “a few hundred thousand dollars.” Id. at 83–84. When Plaintiff told Defendant he was fine participating at that dollar value, Defendant began sharing details of her investment group, including the specific split of profits. Id. at 84. Defendant then asked Plaintiff if he found these investment terms acceptable. Plaintiff did not immediately respond. Id. The next day, on February 5, Defendant messaged Plaintiff that Nvidia’s option price had increased by fifty percent. Id. Plaintiff asked Defendant whether her other investors were subject to the same profit-sharing structure Defendant had shared the day before. Id. at 85. After

Defendant confirmed the “same structure for everyone,” Plaintiff replied, “[T]hat works for me,” and asked to discuss next steps. Id. The parties then began discussing a written instrument memorializing the business arrangement, with Defendant explaining that trading could begin within five business days of Plaintiff transferring the funds. Id. at 86. Defendant also sent Plaintiff a graph showing she had achieved a return rate of roughly 154% on her trading in just five days. Id. at 87. The parties also discussed other details, including whether Defendant had an English version of her typical written instrument and whether she accepted U.S. or Chinese currency, to which Defendant responded that she wanted U.S. dollars only. Id. at 87–88. Later that day, Defendant sent Plaintiff the written agreements to review. Again, Plaintiff did not

4 immediately respond, which he explains in his affidavit was because he “wanted to take time to consider investing what is a substantial sum of money for my family and I—$370,000.” Id. at 6. On February 8, with no agreement yet signed, Defendant sent Plaintiff another screenshot showing her trading performance and bragged that she “already made 20% profit tonight.” Id. at 91–92.

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Bluebook (online)
Xiansong Liu v. Hongye Li and North Pacific LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/xiansong-liu-v-hongye-li-and-north-pacific-llc-ilnd-2026.