Cohen v. Switch Fund Investment Club LP

Californian's Membership in N.J. Limited Partnerships Destroys Diversity Jurisdiction

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DECISION & ORDER Defendants Roger and Rosa Altman filed a motion to dismiss this action. See dkt. # 9. They argue that the case lacks full diversity between the parties and the Court therefore lacks jurisdiction to hear the case. The Plaintiff has responded and the Court has determined to decide the matter without oral argument. I. BACKGROUND This case concerns investments that Plaintiff Jeffrey M. Cohen allegedly made with partnerships controlled by the individual Defendants. Plaintiff contends that Defendants mishandled these funds and raises breach-of-contract, bad-faith, embezzlement, fraud, and breach-of-fiduciary-duty claims against all Defendants. See Complaint, dkt. # 1. He seeks actual and punitive damages. Plaintiff filed his Complaint in this action on February 28, 2019. In relevant part, the Complaint alleges that the Court has jurisdiction pursuant to 28 U.S.C. §1322(a)(1). Id. at 1. Plaintiff alleges that he “is a natural person and a domiciliary of the State of California, residing in Sand Diego County.” Id. at 3. The Complaint alleges that Defendant Switch Fund Investment Club, LP, “is a limited partnership organized under the laws of New Jersey[.]” Id. at 5. At all material times to the Complaint, Plaintiff further contends, Switch Fund “conducted business in the Northern District of New York[.]” Id. at 5. Plaintiff also alleges that Defendant Golden Eagle Fund Investment Club, LP, is a New Jersey limited partnership that conducted business in the Northern District of New York. Id. at 6. The Complaint also alleges that “Plaintiff Jeffrey M. Cohen is a limited partner and an investor in defendants Switch Fund Investment Club LP and Golden Eagle Investment Club LP.” Id. at 4. The Complaint further contends that Defendants Roger L. Altman and Rosa L. Altman operated both Switch Fund and Golden Eagle Fund. Id. at

Cohen v. Switch Fund Investment Club LP

Californian's Membership in N.J. Limited Partnerships Destroys Diversity Jurisdiction

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