Innovatus Capital Partners, LLC v. Neuman et al

Filing 81

ORDER re: (70 in 1:18-cv-04252-LLS): The issue raised by MV Realty's counsel's letter to the Court dated April 27, 2020, which has been the subject of various applications, inquiries, and discovery processes by MV Realty and evasions by I nnovatus for years, is overdue for resolution. It is time for Innovatus to furnish the defendants in the case it brought with a clear, meaningful and reliable statement defining the confidential information it claims to have provided to those defenda nts. That requires separating what is confidential from what is not. For example, it would be hard to maintain that the language used in the RTL agreement is confidential since it is disclosed to every buyer who signs the agreement and is free to di scuss it with others. But there may be confidential reasons why those particular words were used: those reasons must be specified (which may be done privately under the litigation's confidentiality agreement) if they are to be part of the claime d Confidentiality Information.The statement must be comprehensive. It must disclose each item and element of the Business Opportunity and, with specificity, every other item of information claimed to be confidential. Whatever is not set forth cannot later be claimedto have been confidential. Terms of reservation such as "among others" or of a right to supplement are unacceptable: they destroy the purpose of having a complete list, render the statement ineffective, and subject any claim based onConfidential Information to dismissal. (Signed by Judge Louis L. Stanton on 5/28/2020) (ml)

Case 1:18-cv-04252-LLS Document 81 Filed 05/28/20 Page 1 of 2
'ii
;USDC ~l.)~Y
I
DOCl '\IENT
.I
ELECTRO'.\IC.-\LLY FILED
UNITED STATES DISTRICT COURT
DOC #: _ _ _ _-r-__,-SOUTHERN DISTRICT OF NEW YORK
DA TE FILED: S / 1 ;\ f Z 0
- - - - - - - - - - - - - - - - - X
INNOVATUS CAPITAL PARTNERS, LLC,
Plaintiff,

18 Ci v. 4 2 52

( LLI;)

18 Civ. 7142

(LLS)

- against JONATHAN NEUMAN, ANTONY MITCHELL,
RITZ ADVISORS, LLC, GREG WILLIAMS,
DARYL CLARK and AMANDA ZACHMAN,
Defendants.
-

-

-

-

-

-

-

X

MV REALTY, PBC, LLC,
Plaintiff,
- against INNOVATUS CAPITAL PARTNERS, LLC,

ORDER

Defendant.
-

-

-

-

-

-

-

-

-

-

-

-

-

X

The issue raised by MV Realty's counsel's letter to the
Court dated April 27, 2020, which has been the subject of
various applications, inquiries, and discovery processes by MV
Realty and evasions by Innovatus for years, is overdue for
resolution.

It is time for Innovatus to furnish the defendants

in the case it brought with a clear, meaningful and reliable
statement defining the confidential information it claims to
have provided to those defendants.

That requires separating

what is confidential from what is not.

-1-

Case 1:18-cv-04252-LLS Document 81 Filed 05/28/20 Page 2 of 2

For example, it would be hard to maintain that the language
used in the RTL agreement is confidential since it is disclosed
to every buyer who signs the agreement and is free to discuss it
with others.

But there may be confidential reasons why those

particular words were used:

those reasons must be specified

(which may be done privately under the litigation's
confidentiality agreement)

if they are to be part of the claimed

Confidentiality Information.
The statement must be comprehensive.

It must disclose each

item and element of the Business Opportunity and, with
specificity, every other item of information claimed to be
confidential.

Whatever is not set forth cannot later be claimed

to have been confidential. Terms of reservation such as "among
others" or of a right to supplement are unacceptable:

they

destroy the purpose of having a complete list, render the
statement ineffective, and subject any claim based on
Confidential Information to dismissal.
So ordered.
Dated: New York, New York
May 28, 2020

LOUIS L. STANTON
U.S.O.J.

-2-