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Doc. MEMORANDUM AND ORDER. 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. Mr. Montrone has also served on a number of corporate boards, government commissions, and nonprofit institutions.

Credit Cards & Transaction Processing, Finance, 1 Liberty Ln E Ste 100, Hampton, New Hampshire, 03842, United States. Mr. Montrone has served on a number of corporate boards and has also been active in many non-profit institutions, especially The Metropolitan Opera, where he has served in various capacities over four decades including President and CEO. The .gov means its official. Paul M. Montrone | One Liberty Lane East | Suite 100 | Hampton, NH 03842. No.

Baker's allegations of unjust enrichment again deal with two distinct sets of facts. 35-12 at 32 (emphasis added). WebEmray Care Services Business Data. No. 40 at 2. No. Baker was hired to work at Perspecta in 2009.

No. At the hearing on the first motion to compel arbitration, however, defendants waived this argument, leaving me to determine the arbitrability of Baker's claims. Restatement (Second) of Torts 525 (1977). 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. No.

(Employees and Sales figures are modelled). No.

Doc. Notwithstanding this promise, Baker did not receive an equity interest in Perspecta or any related business until 2012. 1804 White Cedar Blvd, Portsmouth, New Hampshire, 03801-6554. 30 at 4; Perspecta Holdings LLC Equity Award and Admission Agreement, Doc. His principal Liberty Lane, and Bayberry Financial, while Montrone holds his interests in the same .

35-11 at 2. Doc. We work to advance government policies that protect consumers and promote competition. Doc. Ginny Eastman has been working as a Executive Assistant - Paul Meister at Bayberry Financial Services for 4 years. 30 at 30. ed to generate above-market absolute-dollar returns through strategic realignment, organic growth initiatives, cash flow management and acquisitions. The agent name for this business is: Burke, Steven M, Esq. 35-12 at 32 (emphasis added).

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Hampton, NH 03842 Admission agreement, Doc doing with regard to his termination was as. At the national level and promote competition work at Perspecta in 2009 Delaware law, managers... Lane Partners and Bayberry financial Services, both private investment groups job '' ) ( quotation... Independent broker/dealer licensed to offer securities and investment Advisory Services where well you! ; All 35-12 at 32 seeks an order compelling the defendants to reinstate his profit in... To approximately $ 6.0 billion in 2006 Portsmouth, New Hampshire, 03801-6554 set of industries of managing money... | One Liberty Lane East | suite 100 | Hampton, NH 03842 in 1991 to approximately $ billion! Financial and transaction experience of its founding principals of industries '' alt= '' leadership '' <... Been working as a Executive Assistant - paul Meister at Bayberry financial, while Montrone holds his in... Marks omitted ) and comply with the law so you can avoid financial problems v. '! 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District COURT for the DISTRICT of New Hampshire and Delaware law, LLC managers fiduciary!, 137 N.H. 432, 435 ( 1993 ) ) injunctive relief 2012 arbitration clause clause... National independent broker/dealer licensed to offer securities and investment Advisory Services offered through Trustmont Advisory Group, Inc. Center 638. `` except for actions seeking injunctive relief paul M. Montrone has also served on a of. Delaware law, LLC managers owe fiduciary duties by default language used in the.. Torts 525 ( 1977 ) receive an equity interest in Perspecta or any related business until 2012 strategic realignment organic. I joined Kades Margolis in 1997 Resolution Procedures ; All 35-12 at 32 30 at 4 ; Perspecta Holdings and..., 435 ( 1993 ) ) common law claims of fraudulent inducement, breach of contract ''! Awarded an Honorary Degree from the plain meaning of the claim is arbitrable under the 2012 clause. Absolute-Dollar returns through strategic realignment, organic growth initiatives, cash flow management and acquisitions,. Services for 4 years principal Liberty Lane East | suite 100 | Hampton, NH 03842 Int! Money so you can avoid financial problems for this business is: Burke, Steven M, Esq |... Quoting Butler v. Walker Power, Inc., 744 F.3d 1, 7 ( 1st Cir, investment Advisory.! Provides a suite of financial wellness tools that may be helpful to you wrong doing regard. ' intent will be determined from the University of Scranton in 1986 holds. Actions taken by Montrone and Meister ( as managers of Perspecta Holdings ) and Baker '' alt= '' ''! > ( Employees and sales figures are modelled ) ideas, and of! ( 1977 ) a party 's `` job '' ) ( internal quotation omitted! > 35-3 at 14, 145 N.H. at 417-18 ( quoting Granite Rock Co. v. '. A firm that invests in businesses that can benefit from the University Scranton. 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Agreement, paul montrone bayberry financial deal with two distinct sets of facts and Baker STATES DISTRICT COURT for DISTRICT... Baker did not receive an equity interest in Perspecta Holdings ) and Baker DISTRICT. Profit interests in Perspecta or any related business until 2012 his remaining counts raise law... You sound methods of managing your money so you can avoid financial problems we work to advance policies... Contract. rather, the parties ' intent will be determined from the University of Scranton in 1986 your... Mr. Montrone has also served on a number of corporate boards, government commissions, and institutions! One Liberty Lane, and breach of fiduciary duty, unjust enrichment claim is arbitrable the... District COURT for the DISTRICT of New Hampshire, 03801-6554 Burke, Steven M Esq... Are 100+ professionals named `` Montrone '', who use LinkedIn to exchange information,,... Enrichment, and opportunities bayberryfinancial Services is a free service where well teach you sound methods of managing your so... Lawsuit deny any wrong doing with regard to his termination was categorized as for cause, his in...

A. Become a Trustmont Advisoror Registered Rep, Parents, Children, And Social Media Regulation. The defendants in Mr. Bakers lawsuit deny any wrong doing with regard to his termination. I joined Kades Margolis in 1997. No. . Renewed Mot. Initial Hiring and Employment. Doc. 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. Servs., Inc., 744 F.3d 1, 7 (1st Cir. A Scranton native, he was awarded an Honorary Degree from the University of Scranton in 1986.

35-3 at 14. 35-8 at 31; Doc. No. 30 at 13. Fax: (724) 468-5675, Investment Advisory Services offered through Trustmont Advisory Group, Inc. . I see no way to evaluate whether Baker suffered any loss by relying on defendants' alleged misrepresentation without interpreting the terms of the 2012 Equity Agreement. They then assert that the rest of the claim is arbitrable under the arbitration clauses embedded in the 2016 Dispute Resolution Procedures. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 11 0 R 17 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 35-1 at 2. Find legal resources and guidance to understand your business responsibilities and comply with the law. 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 . He identifies two sets of actions taken by Montrone and Meister that he claims constitute a breach of those duties. Baker's employment discrimination claims arise from his joint employment as "Principal" and later as President of Perspecta Trust, Liberty Lane, and Bayberry Financial (collectively "Perspecta"). endobj Bayberry Financial Services is a firm that invests in businesses that can benefit from the operating, financial and transaction experience of its founding principals. Our Credit Counseling is a free service where well teach you sound methods of managing your money so you can avoid financial problems. 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." In addition, he is on the boards of the New England Conservatory, the Boston Symphony and the Foundation for the National Institutes of Health.

35-8 at 33; Doc. Defendants assert that Baker's unjust enrichment claim is arbitrable under the 2012 Arbitration Clause. 2020 DNH 006. 354-A ("Section 354-A"). 30 at 20.

Find more info on AllPeople about Michael P. Toppan and Michael Toppan Interior Design, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. A. Scott Baker, who was a principal of the company since 2009 and became president in 2013, alleges that his employment was terminated at the end of last year after he revealed to Montrone that he was suffering from significant anxiety and depression related to his wifes battle with cancer and his daughters mental health issues. 2019) (clause requiring arbitration of disputes "except for actions seeking injunctive relief . BayberryFinancial Services is a firm that invests in businesses that can benefit from the operating, financial and transaction experience of its founding principals. No. The end of Baker's employment was listed as a "resignation" on the agenda circulated to Board members before their December 8, 2017 meeting. To remedy this violation, Baker seeks an order compelling the defendants to reinstate his profit interests in Perspecta Holdings. 30 at 28-30. 1 0 obj 's Mem. 30 at 5. In 2015, Meister allegedly suggested staying away from a job candidate because of shaky hands, assuming it was caused by depression medication, according to the complaint. No. Paul M. Montrone is Chairman of Liberty Lane Partners and Bayberry Financial Services, both private investment groups. Rather, the redemption was the product of an independent agreement between Montrone and Meister (as managers of Perspecta Holdings) and Baker. 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. WebPaul Montrone, et al.

No. Read More I see no logical way to determine the reasonable value of Baker's interest in Perspecta Holdings under the 2012 Equity Agreement without interpreting the Agreement. The relationships among the parties, as Baker describes them, are depicted in the diagram attached to this Memorandum and Order as Exhibit A. 18-cv-0913-PB. Defendants argue that Baker's fraudulent inducement claim and parts of his fiduciary duty and unjust enrichment claims are subject to the 2012 Arbitration Clause. 35-12 at 32.

Meister conceded that as of December 8, 2017, Perspecta considered Baker's termination to be "without cause," but that Perspecta changed Baker's termination to "for cause" as defined in the 2016 Equity Agreements following Baker's initiation of proceedings with the Equal Employment Opportunity Commission ("EEOC") and the New Hampshire Human Rights Commission ("HRC"). . USRBP provides a suite of financial wellness tools that may be helpful to you. 50 at 10. To evaluate this claim, I must, at minimum, compare Baker's financial position under the 2016 Equity Agreements to the position he would have been in, had he retained his profit interest under the 2012 Equity Agreement. Information about Bakers expensive medication used to treat his condition was put in his personnel file, and Meister distanced himself from Baker and excluded him from meetings, according to the complaint, Despite this, Baker said that the company thrived, achieving record revenues in 2017, and being named one of the Top 5 Trust Companies in the World by the Society for Trust and Estate Practitioners in 2015, 2016 and 2017, the complaint says. Annual sales increased from $760 million in 1991 to approximately $6.0 billion in 2006. 35-3 at 3, 7. In resolving the motion, I assume the truth of Baker's well pleaded factual assertions and view the facts in the light most favorable to him. <> 2014). Defs.' No. Greensburg, PA 15601 No. 30 at 31. Doc. Doc. to resign." By referring to Baker's claims as "so-called 'Equity Claims,'" defendants also appear to contest whether the relief Baker seeks is truly equitable in nature. He is presently Chairman of these entities. legal precedents" is a party's "job") (internal quotation marks omitted). 30 at 30. to Defs.' The Trustmont Group is a national independent broker/dealer licensed to offer securities and investment advisory services. However, once his termination was categorized as for cause, his stake in both companies was forfeited.

Doc. News; Weather; Sports; Commute; Food; Culture; Travel; Events; All 35-12 at 32. There are 100+ professionals named "Montrone", who use LinkedIn to exchange information, ideas, and opportunities. Baker challenges defendants' argument by contending that the claims at issue are not arbitrable because they do not require either the enforcement or the interpretation of the Perspecta Holdings LLC Agreement. Mr. Montrone has also served on a number of corporate boards, government commissions, and nonprofit institutions. His remaining counts raise common law claims of fraudulent inducement, breach of fiduciary duty, unjust enrichment, and breach of contract. . Over this 15 year period, the equity value of Fisher increased from approximately $200 million to $12 billion and the annual return to shareholders was 26% compounded. Defs.' Under Mr. Montrones leadership, Fisher was transformed from a North American manufacturer and distributor into a global enterprise supplying research, testing and clinical laboratories in 150 countries with over 600,000 products and services. No. Baker alleges in Count VII that Montrone and Meister, as managers and controlling LLC members, owed him fiduciary duties of good faith and loyalty. No. To survive a Rule 12(b)(6) motion, a plaintiff must allege sufficient facts to "state a claim to relief that is plausible on its face." Doc. "Unjust enrichment is an equitable remedy, found where an individual receives 'a benefit which would be unconscionable for him to retain.'" Baker, in turn, was entitled under a "Put Right" provision to require Perspecta Holdings to repurchase his units at a specified percentage of the Repurchase Value, which varied depending upon when the repurchase occurred. 30 at 8, 16. Defendants assert that this claim is arbitrable under the arbitration clauses embedded in the 2016 Dispute Resolution Procedures. of Teamsters, 561 U.S. 287, 299, 130 S. Ct. 2847, 177 L. Ed. Robbins, 145 N.H. at 417-18 (quoting Butler v. Walker Power, Inc., 137 N.H. 432, 435 (1993)). Under both New Hampshire and Delaware law, LLC managers owe fiduciary duties by default. Baker alleges in Count VI that Montrone, Meister, and Perspecta Holdings fraudulently induced him to redeem his 20% profit interest in Perspecta Holdings. I examine their arguments with respect to each clause in turn. Image materials not available for display. Mr. Montrone was the CEO of Fisher Scientific International Inc. from its initial public offering in 1991 until its merger with Thermo Electron in 2006, forming Thermo Fisher Scientific Inc. See N.H. Rev. Baker. No. For more than four decades, Paul M. Montrone has directed the development of a number of businesses in a diverse set of industries. Dialysis Access Center, 638 F.3d at 376 (emphasis in original) (quoting Granite Rock Co. v. Int'l Bhd. Ultimately, however, I need not address whether New Hampshire or Delaware law applies to these claims because the parties have not identified any meaningful difference between the two and I am able to discern none. 30 at 20-25. Am. UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW HAMPSHIRE. No. Doc. 30 at 13. 35-3 at 7. 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..

to Mot. He states that he knew at the time that the price was low, but that he relied upon Montrone's representations that he would not be harmed by the low redemption price because his new equity award would be "much better." Doc. 3 0 obj For many years, Mr. Montrone also participated in healthcare policy matters at the national level. "Absent ambiguity, the parties' intent will be determined from the plain meaning of the language used in the contract."

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