The head of a New Jersey law firm has been hit with a suit over control of a side business providing sales training and coaching.

Sean Callagy of Callagy Law in Paramus is accused in the lawsuit of ousting a CEO and part-owner of the company, Unblinded, and paying him a fraction of the true value of his stake. The suit, filed June 19 in U.S. District Court in Newark, says Callagy valued the company at $100,000 without undertaking a formal valuation despite a seven-figure revenue stream.

The suit marks the second time Callagy has been haled into federal court in the past 60 days. In April, he was hit with a suit accusing him of defaulting on an $18 million litigation funding loan agreement.

In the Unblinded suit, plaintiff Jared Yellin said he ran the company since its founding in November 2019 and holds a 24% share. Yellin said in the suit that Callagy and another defendant, Adam Gugino, asked him to give up his stake in the company for $25,000. Callagy has a 48% share and Gugino owns 24%, the suit claims.

Yellin says in the suit that he "believes that given the current and projected revenue streams and profitability, the value of this new company may be at least 30 times the amount 'proposed' by defendants. The majority's attempt to 'freeze out' plaintiff and deprive him of his interest in Unblinded in exchange for an arbitrary and capricious 'settlement' payment is the very essence minority oppression."

The suit seeks an order compelling Callagy and Gugino to purchase Yellin's ownership in the company at its fair value.

The suit includes claims of breach of fiduciary duty and a breach of loyalty, and brings a  quantum meruit claim for services provided to the company by Yellin without compensation.

Callagy was not available for comment, said another attorney at his firm, Michael Smikun. Gugino, who holds the title of chief revenue officer at Unblinded, did not respond to an email.

The April suit accuses Callagy and his firm of failing to pay $18 million to a litigation funder that helped finance several personal injury cases. The suit also accuses Callagy and his firm of refusing to provide information about the status of the cases for which the funds were borrowed, according to the suit, by Legal Capital Group of Boca Raton, Florida.

That suit says Legal Capital provided 16 advances totaling $441,794 from January to September 2013 on personal injury cases brought by the Callagy firm and an additional $150,000 to attorney Benjamin Light and his firm, Aromando & Light, who are not named as defendants in the suit. Callagy, who was litigating several cases on behalf of Light, agreed to give a security interest in his firm's cases to secure the advance to Light, the suit says. The loans carried interest rates ranging from 1.99% to 4.99%, compounded monthly.

Callagy and his firm are represented in that case by Kevin Weber of Gibbons in Newark, who is due to answer or otherwise respond to the complaint by Aug. 3.

David Sprong of Becker in Livingston, who filed the suit on behalf of Yellin, also did not return a call about the case.