Innovatus Capital Partners, LLC v. Neuman et al

Filing 246

ORDER: As appears from the parties' recent correspondence, Innovatus's requests for discovery are unquestionably overbroad. It seeks to obtain discovery of several whole categories of documents, including: Documents relating to MV ' s relationship with 777 Partners; Documents relating to financial advisors, rating agencies, and investors; Documents relating to MV's Board of Director meetings; Various internal communications. There may be some documents wit hin those spacious business areas that are relevant to the only matter remaining in this case, Innovatus's entitlement to recompense for its contributions to MV' s business if they enhanced its results, and all such documents must be pr oduced. As the Court has reiterated in multiple Orders, Innovatus is only entitled to discovery on that issue, and MV shall produce responsive documents, to whatever extent they have not yet been produced. See Orders dated December 23, 2020 and February 11, 2021. As Redibs exists only to serve Innovatus's interests in the conduct of RTL sales, and Innovatus's control over Redibs borders on the absolute, the two may be regarded as alter egos for purposes of retention and disclo sure of documents; and demands for production directed to one taken as also directed to the other, to be complied with by whichever possesses the responsive documents. See also Order dated July 7, 2021. (Signed by Judge Louis L. Stanton on 11/24/2021) (rro)

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· t:SDC SDNY
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EL H T RO:\lCALL Y FILED
DOC :i:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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INNOVATUS CAPITAL PARTNERS , LLC ,

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/:;_ .

DAT l· ,.. I l_E
_D_:

Plaintiff ,

18 Civ . 4252

(LLS)

- against JONATHAN NEUMAN , ANTONY MITCHELL ,
RITZ ADVISORS , LLC , GREG WILLIAMS ,

ORDER

DARYL CLARK and AMANDA ZACHMAN ,
Defend a n ts .
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X

MV REALTY , PBC , LLC ,
18 Civ . 7142

(LLS )

Pl a intiff ,
- again s t I

OVATUS CAPITAL PARTERS , LLC ,
Defe dan · .
-

As appears from

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h e par i es '

X

rece t correspond e ce ,

Innovatus ' s requests for discovery are
It seeks
doc

o obt ai

discovery of severa

questionably overbroad .
w ole categor · es o~

ens , i cl dig :
•

Docume nt s re lati ng to MV ' s relati on sh i p with 777
Pa rtner s;

•

Docume nt s rel a ting to financial advi s or s, rating
agencie s, and inve s tor s;

•

Documen s relating to MV ' s Board of Director

•

Various internal co

e e tings ;

unications .

There ma y be s ome documents within those spacio u s busi n ess

areas that are relevant to the only matter remaining in this
case ,

Innovatus ' s entitlement to recompense for its

contributions to MV ' s business if they enhanced its results , and
all such documents must be produced .
As the Court has reiterated in multiple Orders , Innovatus
is only entitled to discovery on that issue , and MV shall
produce responsive documents , to whatever extent they have not
y et been pr o duced . See Orders dated December 23 , 2020 and
February 11 , 2 0 21 .
As Redib s exi s t s only to se rv e Innovatu s ' s i nt erests in th e
conduct of RTL sale s, and Innovatu s's cont r ol over Red i bs
border s on the absolute , the two may b e r egarded a s alter egos
fo r purpo ses of retention and di s clo s u re o f document s ; a nd
demand s for production directed to one tak e n a s also directed
the other , to be coo ied wi

by w ic ever possesses

responsive docu encs . See a l so Order da ed

e

uly 7 , 202 _.

So Ordered .
Dated :

ew York
ew York ,
November 24 , 2021

~I SL-.St~
LOU
L . STANTO
U. S . D. J .

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