Arutyan Armenakovi Shakhbazyan v. BMW Financial Services NA, LLC

I. BACKGROUND

a. Factual Background Plaintiff alleges that, on February 26, 2021, he entered into a Lease Agreement with a SAI Monrovia B, Inc. (“SAI”), a BMW dealership located in Monrovia, CA for a 2020 BMW M8 Convertible (the “Subject Vehicle”). (Compl. ¶¶ 3, 14–21, Docket 1-1). The terms of the lease were devised and drafted by BMW FS. (Id. ¶ 22). On January 31, 2022, the Subject Vehicle was involved in an accident, and GEICO General Company (“GEICO”), Plaintiff’s insurance carrier, deemed the Subject Vehicle a total loss. (Id. ¶ 25). On July 21, 2023, GEICO determined the insurance payout was $133,417.49, which was $16,993.44 more than the Adjusted Lease Balance due under the Lease Agreement. (Id. ¶¶ 26–28). Plaintiff alleges that BMW FS wrongfully collected the full total loss amount from GEICO and failed to remit the alleged “equity”—i.e., the difference between the total loss amount and the Adjusted Lease Balance—Plaintiff was entitled to recover. (Id. ¶¶ 29–39). b. Procedural Background On December 14, 2023, Plaintiff, a California Resident, filed a Complaint against BMW FS, a Delaware Limited Liability Company, and SAI, a California corporation, asserting…