GT Securities, Inc. v. Klastech GmbH

2014 WL 2928013 (2014)

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GT Securities, Inc. v. Klastech GmbH

United States District Court for the Northern District of California
2014 WL 2928013 (2014)

RW

Facts

Two German firms, Triangle Venture Capital Group GmbH & Company KG Nr. IV (Triangle) and Triangle’s subsidiary, Klastech GmbH (defendants), sought the services of GT Securities, Inc. (GTK) (plaintiff), a California firm, in finding a buyer for Klastech. The parties signed a contract obligating Klastech to pay GTK a finder’s fee and publicize GTK’s role if the search succeeded. Over the next few years, Triangle, Klastech, and GTK executives met at GTK’s California headquarters at least once, the companies exchanged frequent phone calls and emails, and Klastech appointed a California-based American sales manager. Eventually, an American firm bought Klastech. However, Triangle and Klastech refused to pay GTK a finder’s fee and misrepresented GTK’s role in facilitating the sale. GTK sued Triangle and Klastech in the federal district court for Northern California, alleging breach of contract and fraudulent misrepresentation. Triangle and Klastech moved to dismiss the case for want of general or specific personal jurisdiction.

Rule of Law

Issue

Holding and Reasoning (Spero, J.)

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