Mercator Momentum Fund v. IDI Global
Plaintiffs are California entities with their principal places of business in California. Defendant IDI Global, Inc. (IDI) is a Nevada corporation with its principal place of business in Utah. Griffith is a Utah resident and IDIs chief executive officer. Clayton is a Utah resident and an IDI shareholder. Clayton is also a shareholder of First Equity Holdings, an entity that is not a party to this action. Ascendiant Securities, LLC (Ascendiant) is an investment banking firm that was involved in a financing transaction between plaintiffs and IDI that is the subject of this action.
The trial court concluded there was insufficient evidence of minimum contacts between Griffith and the State of California, or of Griffiths fraudulent concealment of material information from plaintiffs, as grounds for exercising personal jurisdiction over him. Substantial evidence supports this conclusion. The orders granting the motions to quash are affirmed.
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