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Narayanan v. Sutherland Global Holdings Inc.

Jury Trial on Fiduciary Duty Breach Counterclaim Is Ruled Voluntarily, Knowingly Waived

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DECISION AND ORDER INTRODUCTION There are two trial-ready claims pending in the instant diversity action: (1) a claim for breach of contract by plaintiff Muthu Narayanan (“Plaintiff”); and (2) a counterclaim for breach of fiduciary duty by defendant Sutherland Global Holdings Inc. (“Defendant”). The parties agree that Plaintiff has waived his right to a jury trial as to his breach of contract claim. However, there is a dispute as to whether Defendant is entitled to a jury trial on its breach of fiduciary duty counterclaim. For the reasons discussed below, the Court finds that Defendant has also waived its right to a jury trial and its demand for the same is accordingly stricken. BACKGROUND This case has an extensive procedural history, familiarity with which is assumed for purposes of the instant Decision and Order. The Court summarizes the salient facts below. Plaintiff commenced the instant action on March 25, 2015. (Dkt. 1). In his complaint, Plaintiff asserted two claims for breach of contract and two claims for unjust enrichment. (Id.). One breach of contract claim and one unjust enrichment claim sought just under $2 million in damages related to Defendant’s alleged refusal to pay Plaintiff the proceeds for his sale of certain “Option Shares.” (Id. at

39-48). The other breach of contract and unjust enrichment claims sought approximately $11,290.80 in damages related to Defendant’s alleged refusal to pay Plaintiff the proceeds for his sale of 1,000 shares of stock under a “Redemption Agreement.” (Id. at

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