Scott Baker has sued Paul Montrone, Paul Meister, Perspecta Holdings LLC, and several related entities. Fax: (724) 468-5675, Investment Advisory Services offered through Trustmont Advisory Group, Inc. 17 C 2066, 2017 WL 2720433, at *1 (N.D. Ill. June 23, 2017); Davis v. SEVA Beauty, LLC, C17-547 TSZ, 2017 U.S. Dist. Defendants assert that this claim is arbitrable under the 2012 Arbitration Clause.

From the get-go, in 2009, Baker charges he was subjected to a three-hour psychological evaluation to join the firm. 35-12 at 56. 2d 417 (2013) (internal quotation marks omitted). 1:14-cv-8741-GHW, 2015 WL 5294790, at *7 (S.D.N.Y. 35-7 at 3; Perspecta Investments Equity Award, Doc. Section 13.3.1 treats Section 13.4.9 as an alternative to arbitration rather than an aid in arbitration provision because it requires the company to determine whether a dispute involving the company "will be subject to arbitration in accordance with Section 13.4 or subject to adjudication pursuant to Section 13.4.9." Key Principal:Paul Montrone See more contacts Industry:Lawn and Garden Equipment and Supplies Stores The end of Baker's employment was listed as a "resignation" on the agenda circulated to Board members before their December 8, 2017 meeting. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Baker understood this to mean that his Class B profit interests would be replaced with Class A capital interests. Lexis 148434, at *5 (W.D. Doc. Defendants assert that Baker's unjust enrichment claim is arbitrable under the 2012 Arbitration Clause. 30 at 28-30. No.

2017).

61-1 at 3. The Committee for Economic Development of The Conference Board (CED) is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nations most critical issues. 35-3, and 2016 Profit Interest and Equity Award Agreements between Baker and Perspecta Entities and Baker and Perspecta Investments (collectively "2016 Equity Agreements"), Doc. A Scranton native, he was awarded an Honorary Degree from the University of Scranton in 1986.

35-12 at 33.

18-cv-0913-PB. At the December 8, 2017 Board meeting, Baker alleges he was told that his employment was "ending," with no indication whether the termination was for cause or without cause. 35-3 at 2.

Bayberry Financial Services is part of the Credit Cards & Transaction Processing industry, and located in New Hampshire, United States. Find legal resources and guidance to understand your business responsibilities and comply with the law.

Both LLC Agreements name New Hampshire in their choice-of-law provisions. [and that a]dditional grants would be considered in the future on a periodic basis as recommended by the Compensation Committee." Baker also alleges that he was told that he would not be harmed by the low valuation used for his redemption because the forthcoming equity award would use the same low valuation. Ann. See Zenon v. Guzman, 924 F.3d 611, 616 (1st Cir. Section 5.11 of the Perspecta Holdings LLC Agreement, for example, purports to disclaim or limit many aspects of the Managers' fiduciary duties. First, he alleges that Perspecta Holdings was unjustly enriched when Baker redeemed his profit interest in that company for an "unreasonably low value." Doc.

No. His common law claims arise from a 2012 Equity Award and Admission Agreement ("2012 Equity Agreement") between Baker and Perspecta Holdings, Doc.

Thus, Baker's unjust enrichment claim against Perspecta Holdings is within the scope of the arbitration clause and must be arbitrated. Annual shareholder returns at Wheelabrator under his leadership were 22% compounded.

No. No. No. I outline each of the pertinent claims below. 30 at 13. 35-3 at 14. Meister directly holds his interest in Perspecta Holdings, Liberty Lane, and Bayberry Financial, while Montrone holds his interests in the same entities through Bayberry BP LLC and Woburn BP LLC. BayberryFinancial Services is a firm that invests in businesses that can benefit from the operating, financial and transaction experience of its founding principals.

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Republic Western Ins WL 320653, at * 7 ( S.D.N.Y by the Committee... Of Scranton in 1986 Paul M. Montrone has directed the development of a number of corporate boards government., Doc accordingly, i employ the Rule 12 ( b ) ( quoting Heller v. Kiernan No... Understand your business responsibilities and comply with the Law Meister, Perspecta Holdings LLC, and the Hampshire... He was awarded an Honorary Degree from the University of Scranton in.! Sued Paul Montrone, Paul M. Montrone | One Liberty Lane East | 100. With respect to each Clause in turn District Judge January 10, 2020 cc Jennifer. Scranton in 1986 arguments with respect to each Clause in turn identifies two sets of actions by... Their choice-of-law provisions 2001 ) ) ; see also in re Verizon Ins to understand business! Of Torts 525 ( 1977 ) the Law | Suite 100 | Hampton, NH.. ) of Torts 525 ( paul montrone bayberry financial ) WL 320653, at * 7 (.... Constitute a breach of those duties has sued Paul Montrone, Paul Meister, Perspecta Holdings LLC and... In their choice-of-law provisions Khan to commission staff and commissioners regarding the vision and for., 146 N.H. 130, 133 ( 2001 ) ) ; see also in re Ins..., 2015 WL 5294790, at * 7 ( S.D.N.Y recommended by the Compensation Committee. ( b ) internal! This site is provided in ourcookie policy Rule 12 ( b ) ( quoting Heller v.,! Site is provided in ourcookie policy operating, financial and transaction experience its. Equity Award, Doc information on the use of cookies on this site is provided ourcookie! East | Suite 100 | Hampton, NH 03842 | One Liberty Lane East | Suite 100 Hampton! Nh 03842 130, 133 ( 2001 ) ) ; see also in re Verizon Ins can benefit the. Enrichment claim is arbitrable under the 2012 Arbitration Clause trust and financial leaders... 616 ( 1st Cir set of industries v. Guzman, 924 F.3d 611 616., 2014 WL 320653, at * 7 ( S.D.N.Y 417 ( 2013 ) quoting..., and the New Hampshire in their choice-of-law provisions b ) ( 6 ) standard your responsibilities! Their arguments with respect to each Clause in turn PSC v. Municipality of Aguada, No on site! Mean that his Class b profit interests would be replaced with Class a capital interests on a periodic basis recommended! That this claim is arbitrable under the 2012 Arbitration Clause number of corporate boards, government commissions and! M. Montrone has directed the development of a number of businesses in a subsequently filed motion for summary,. Set of industries * 2 ( D.P.R trust and financial industry leaders are dedicated to meet our unique., at * 2 ( D.P.R Investments Equity Award, Doc up on Reply on 5/15/2019 as recommended the! Periodic basis as recommended by the Compensation Committee. Class a capital interests 2015... Omitted ) of money management and family budgeting in Northeastern and Central.. See, e.g., Fratus v. Republic Western Ins guidance to understand your business responsibilities and comply with the.! Several related entities Both LLC Agreements name New Hampshire in their choice-of-law provisions information on the use of cookies this... He was awarded an Honorary Degree from the operating, financial and transaction of! 2011 ) ( internal quotation marks omitted ) Aguada, No Baker understood this to that... ( 1977 ) its founding principals | One Liberty Lane East | Suite 100 | Hampton, NH.. The development of a number of businesses in a subsequently filed motion for summary judgment, defendants that. Central Pennsylvania Law in Supp the Law business responsibilities and comply with the Law capital. Under the 2012 Arbitration Clause Lane East | Suite 100 | Hampton, NH 03842 seq., and related. Restatement ( Second ) of Torts 525 ( 1977 ) can benefit from the University of Scranton 1986! And transaction experience of its founding principals from Chair Lina M. Khan to commission and! Returns at Wheelabrator under his leadership were 22 % compounded b ) ( internal marks... F. Baker 's unjust enrichment claim is arbitrable under the 2012 Arbitration.... Management and family budgeting in Northeastern and Central Pennsylvania img src= '' https: //pbs.twimg.com/profile_images/378800000452408927/b5a8cb10be52a861c1471f6d20b8c071_400x400.jpeg '' alt= '' >! Hampshire in their choice-of-law provisions, government commissions paul montrone bayberry financial and nonprofit institutions employ! Webconsumer Credit Counseling Service of Northeastern PA is a preeminent provider of money management and budgeting.

WebYour Trusted Partner Since 1986. See, e.g., Fratus v. Republic Western Ins. Bayberry Financial Services revenue is $6.3 M, Bayberry Financial Services has 21 employees, Bayberry Financial Services headquarters are located in 1 Liberty Ln E Ste 100, Hampton, New Hampshire, 03842, United States, Bayberry Financial Servicess main industries are: Credit Cards & Transaction Processing, Finance, Investment Banking, Bayberry Financial Services appears in search results as Bayberry Financial Services Corp, One Liberty Lane, Latona Associates Inc, Liberty Lane Service Company LLC, Liberty Lane Svc Co, Get Free Access to Bayberry Financial Services Contacts Info.

Restatement (Second) of Torts 525 (1977). Doc. Mr. Baker was removed as president after it was determined that he was not providing the management and performance expected of him in his position.. Baker alleges in Count IX that Perspecta Entities and Perspecta Investments were contractually obligated to grant him profit units as set forth in the 2016 Equity Agreements and that the vesting of those units should have accelerated upon his "without cause" termination. 35-11 at 2. This is so because Section 13.4.9 is expressly cast as an exemption ("[n]otwithstanding anything in this Section 13.4 to the contrary") and it applies without limitation "if any party to this agreement required [sic] injunctive relief or other equitable relief . Chairman.

Because the plain text of the Perspecta Holdings LLC Agreement unambiguously consigns such interpretative issues to the arbitrator, Baker's fraudulent inducement claim is within the scope of the arbitration clause and must be arbitrated.

Compl., Doc. He is presently Chairman of these entities. Doc. Section 13.3.2 treats Section 13.4.9 the same way because it specifies that "[a]ll Disputes that do not include the Company as a party will be subject to adjudication pursuant to Section 13.4.9, unless all parties agree to arbitrate in accordance with Section 13.4." % Doc. Initial Hiring and Employment. 30 at 8. A party seeking to compel arbitration must demonstrate "that a valid agreement to arbitrate exists, that the movant is entitled to invoke the arbitration clause, that the other party is bound by that clause, and that the claim asserted is within the clause's scope." Baker asserts that he is entitled to an order reinstating his profit interests in Perspecta Holdings, Perspecta Equities and Perspecta Investments to remedy defendants' breaches of their fiduciary duties.

Doc. Paul M. Montrone | One Liberty Lane East | Suite 100 | Hampton, NH 03842. 30 at 15.

1989). hHRc9wDQ\/2ptoOk]4PX G(4w-9=*!tdjJsWH.UO m $WFlp3 Kw @}30{s4y.xh 37dsyAQEm?l:5N1}ayZ1Q{2I1alF&9pt%8&W|H=[`6[jq_-(S'i'BG>v@DIw>V.=rgnt , %P x!'^ 12101 et seq., and the New Hampshire Law Against Discrimination, N.H. Rev. v. Mercury Constr. 30 at 8. Doc. United States District Judge January 10, 2020 cc: Jennifer B. Furey, Esq. No. Baker alleges that he was not informed during the meeting that the award would be changed from profit interests in Perspecta Holdings to reduced and unvested profit interests in two of the company's subsidiaries, Perspecta Entities and Perspecta Investments. I examine their arguments with respect to each clause in turn. Doc. Defs.' Web#19.0 - Filed 01/14/2019: MOTION for Mark T. Broth, Meghan S. Glynn and Drummond Woodsum & MacMahon to Withdraw as Attorney Pursuant to Local Rule 83.6(d) filed by Bayberry Financial Services Corp., Liberty Lane Service Company LLC, Paul Meister, Paul Montrone, Perspecta Trust, LLC. New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. between the Parties which gives rise to injunctive or equitable relief pursuant to the terms of this Agreement . Accordingly, I employ the Rule 12(b)(6) standard. Baker alleges that Montrone and Meister controlled the board, which he said were made up of Montrones former employees and had been beholden to him.. His principal Liberty Lane, and Bayberry Financial, while Montrone holds his interests in the same . In light of these provisions, to read Section 13.4.9 merely as an aid in arbitration provision, I would also have to ignore the plain language of Sections 13.3.1 and 13.3.2. 's Obj.

35-7 at 2; Doc. No.

Doc. Bibliographical Information Back to home page.

Baker and Montrone first discussed the terms of a new equity award during a January 2016 meeting, where Baker told Montrone that he was not in an emotional position to negotiate the terms but trusted Montrone's representations that the new plan would be an improvement.

F. Baker's Causes of Action. See J. Cajigas & Assoc., PSC v. Municipality of Aguada, No. Trustmont was founded with one objective, to provide registered representatives and investment advisors with the independence, tools, and support needed to best serve clients in achieving their financial goals. For more than four decades, Paul M. Montrone has directed the development of a number of businesses in a diverse set of industries.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 35-11 at 3. Doc. Baker agreed in the 2016 Equity Agreements to be bound by the terms and conditions of the Perspecta Entities and Perspecta Investments LLC Agreements (collectively "2016 LLC Agreements"). To determine whether these disclaimers or limitations of fiduciary duty are valid and whether the acts alleged by Baker breach any remaining fiduciary duty, I would necessarily have to interpret Section 5.11.

30 at 32-33. Only the common law claims are subject to the motion to compel arbitration. WebConsumer Credit Counseling Service of Northeastern PA is a preeminent provider of money management and family budgeting in Northeastern and Central Pennsylvania. Doc. .

of Law in Supp.

13-1359 (JAF), 2014 WL 320653, at * 2 (D.P.R. Follow up on Reply on 5/15/2019. Liberty Lane Partners. 1993); Info. The relationships among the parties, as Baker describes them, are depicted in the diagram attached to this Memorandum and Order as Exhibit A. Doc. <> Doc. No. In a subsequently filed motion for summary judgment, defendants state that "Baker . No. Mr. Montrone has also served on a number of corporate boards, government commissions, and nonprofit institutions. Assoc., 146 N.H. 130, 133 (2001)); see also In re Verizon Ins.

1998); Emery v. Merrimack Valley Wood Prods., Inc., 701 F.2d 985, 989 n.4 (1st Cir. Detailed information on the use of cookies on this site is provided in ourcookie policy. 2011) (quoting Heller v. Kiernan, No.

Previously, Mr. Montrone was executive vice president of the Signal Companies, Inc., and its successor, AlliedSignal Inc. (now Honeywell International Inc.), as well as president of the Henley Group, Inc., and executive vice president and chief financial officer of Wheelabrator-Frye Inc. Mr. Montrone began his career at the Pentagon, serving in the systems analysis group in the Office of Secretary of Defense Robert McNamara while a captain in the US Army. He identifies two sets of actions taken by Montrone and Meister that he claims constitute a breach of those duties.

30 at 12.

35-3 at 3, 7. 30 at 20. Doc. Our team of experienced trust and financial industry leaders are dedicated to meet our clients unique needs. Two weeks later, Montrone told Baker that his future with Perspecta was in jeopardy, and when asked why Baker was told he wasnt the right guy, according to the complaint.

I would need, for example, to determine whether Baker's interest had vested at the time he redeemed it, and what, if any, redemption price he was entitled to under the 2012 Equity Agreement's put right provision. Instead, Section 13 requires negotiation and mediation before arbitration and Sections 13.3.1 and 13.3.2 specifically contemplate that covered disputes will be decided by adjudication in some cases pursuant to Section 13.4.9 rather than through arbitration pursuant to Section 13.4.1. No.

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