1K1V TGJ Holdings, LLC v. True Gentlemen's Jerky

I. BACKGROUND

This action arises out of Plaintiff 1K1V TGJ Holdings LLC’s (“1K1V”) investment in True, a company that produces and sells beef jerky and other air-dried meat products. (ECF No. 1.) 1K1V is an entity formed for the purpose of investing in True. (Id. ¶¶ 10–11.) 1K1V alleges that it invested approximately $3 million in True stock over a series of transactions. (Id. ¶ 11.) True initiated an action in San Francisco Superior Court on April 12, 2021, which 1K1V removed to the Northern District of California (“California Action”). (ECF No. 16- 1.) True brought several state tort claims, alleging that 1K1V had interfered with its negotiation of a financing agreement with another company. (Id.) 1K1V initiated this action on July 6, 2021. (ECF No. 1.) It brings twelve claims for breach of certain promissory notes and state tort claims against Defendants and one

since-dismissed defendant, asserting that Defendants misled it about True’s value and therefore improperly induced its investment. (Id.) Defendants filed their Motion on August 25, 2021, asserting that, based on the first-filed rule, the Court should transfer this action to the Northern District of…