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Document Sec. Sys. Inc. v. Ronaldi

Abstention Not Warranted in Fiduciary Duty Breach Suit Against CEO Fired for Self-Dealing

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DECISION & ORDER INTRODUCTION This action arises from a dispute between the parties relating to the former employment of defendant Jeffrey Ronaldi (“Ronaldi”) by plaintiffs Document Security Systems, Inc. (“DSS”) and DSS Technology Management, Inc. (“DSS TM”) (collectively “Plaintiffs”). Presently before the Court is Plaintiffs’ motion to stay the proceedings in this action. (Dkt. 35). For the following reasons, Plaintiffs’ motion is denied. BACKGROUND¹ Ronaldi served as the Chief Executive Officer (“CEO”) of Lexington Technology Group, Inc. (“Lexington”), an intellectual property management firm, when it was acquired by DSS on July 1, 2013. (Dkt. 1-2 at

5-6). Upon acquisition, Lexington became a wholly owned subsidiary of DSS, now called DSS TM. (Id. at 7). As of July 1, 2013, Ronaldi held the position of CEO of both DSS and DSS TM. (Id. at

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