Young

FACTS AND PROCEDURAL BACKGROUND

In January 2008, Melody Phan and her husband Marc Wallack incorporated Wal Capital USA, a California Limited Liability Corporation (WC California) and operated it from Orange County, California. Plaintiff, a resident of Sedona, Arizona, is an individual who purchased a $50,000 membership interest in WC California. Six months after incorporating WC California, Phan and Wallack incorporated Wal Capital, S.A. in Costa Rica (WC Costa Rica) and listed its principal address as being in Switzerland. Phan later contacted Velocity to open a foreign currency exchange (Forex) trading account for WC Costa Rica. Velocity is “a Delaware limited liability company with its principal place of business . . . in Toronto, Ontario, Canada” and a satellite support office in New York. It is “an introducing broker, provid[ing] introductory contacts nationwide when requested from time to time.” In such capacity, Velocity’s sole role in this action was to introduce WC Costa Rica to AM, which “provides dealer services for certain participants in the Forex trading marketplace.” Velocity’s communications with Phan “were limited to: (i) emails relating to the opening of the WC…