Albany Road Real Estate Partners LLC v. Tryder
Massachusetts District Court | |
Judge: | Richard G Stearns |
Case #: | 1:20-cv-10463 |
Nature of Suit | 190 Contract - Other Contract |
Cause | 18:1836(b) Civil Action to Protect Trade Secrets |
Case Filed: | Mar 06, 2020 |
Terminated: | Aug 07, 2020 |
Last checked: Wednesday Sep 02, 2020 5:01 AM EDT |
Defendant
Mark Tryder
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Represented By
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Plaintiff
Albany Road Real Estate Partners LLC
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Represented By
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Docket last updated: 04/13/2025 11:59 PM EDT |
Friday, August 07, 2020 | ||
46 | 46
![]() STIPULATION of Dismissal with Prejudice by Albany Road Real Estate Partners LLC. (Francis, Jeffrey) |
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Monday, August 03, 2020 | ||
45 | 45
order
Order on Motion for Extension of Time to File Response/Reply
Mon 08/03 4:37 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting44 Motion for Extension of Time until 8/7/2020 to File Response/Reply to Amended Complaint. (Tang, Danni) |
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44 | 44
![]() Assented to MOTION for Extension of Time to August 7, 2020 to File Response/Reply to First Amended Complaint by Mark Tryder.(Cloherty, Daniel) |
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Saturday, July 11, 2020 | ||
43 | 43
![]() Judge Richard G. Stearns: ELECTRONIC ORDER entered denying32 Motion to Dismiss for Failure to State a Claim. Albany Road Real Estate Partners LLC filed its Amended Complaint in response to the court's order requesting a more definite statement of its asserted trade secret. The court agrees with plaintiff that the allegations as amended, together with the attached exhibits, state plausible claims for trade secret misappropriation under the federal Defend Trade Secret Act, 18 U.S.C. § 1836 (count I), and the state law counterpart (count II); breach of contract (count III); breach of fiduciary duties (count IV); and unjust enrichment/constructive trust (count V). According to the Amended Complaint, when defendant Mark Tryder joined Albany Road as a Vice President in 2015 (he held the position of Managing Director at the time of his departure), he signed an employment contract agreeing, inter alia, not to disclose to others or use for his own purposes Albany Road's confidential information, and not to solicit Albany Road employees or former employees within two years of his employment. See Am. Compl. Ex. A. paras. 5-6. Tryder (together with another Albany Road employee, Andrew Verbinnen, and using Albany Road resources) developed financial analyses, see Am. Compl. Exs. B & C, and a business plan to implement an "office to hotel" concept. Briefly, the concept envisions leasing a floor (or perhaps more) of an office building and converting it to a boutique hotel. In January of 2020, Tryder presented this business opportunity to the Albany Road Executive Board, and although he refused to provide a copy, he described the business plan he had developed. At the end of January of 2020, first Verbinnen and then Tryder departed from Albany Road. Tryder informed Albany Road that he intended to pursue the "office to hotel" business with Verbinnen. This lawsuit ensued. While the "office to hotel" concept is not itself a trade secret, the court agrees with Albany Road that the financial analyses and business plan created and taken by Tryder, for purposes of surviving a motion to dismiss, constitute trade secrets because they can confer an advantage on a competitor also interested in pursuing the "office to hotel" business. See 18 U.S.C. § 1839 ("the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, another person who can obtain economic value from the disclosure or use of the information"); J. T. Healy & Son, Inc. v. James A. Murphy & Son, Inc. , 357 Mass. 728, 736 (1970) ("A trade secret may consist of any... compilation of information which is used in one's business, and which gives him an opportunity to obtain an advantage over competitors who do not know or use it."). Exhibit B to the Amended Complaint is an excerpt of an overall finance model, reflecting "pricing strategy, an expense tolerance and an acquisition cost range for units" based on "voluminous underlying financial analysis." Am. Compl. para. 11. Likewise, Exhibit C is an analysis of "granular level [] cost and profit projections" for one of the ten target cities. Id . para. 12. Albany Road additionally alleges that as Tryder described it at the Executive Board meeting, his business plan includes (i) a disclosure of Albany Road's existing resources and a discussion of how to implant these resources to execute the "office to hotel" business plan; (ii) a description of the confidential financing and investment sources which Albany Road could use to execute the "office to hotel" business plan; (iii) a description of an plan for the technological solutions necessary to execute on the business plan; and (iv) an analysis of the financial projections including costs, pricing and profits to support the business plan and to seek outside investment and/or financing. Am. Compl. para. 16. At the pleading stage, courts have found similar types of documents to constitute trade secret. See , e.g. , InventivHealth Consulting, Inc. v. Atkinson , 2019 WL 6522742, at *6 (D.N.J. Dec. 4, 2019) (denying motion to dismiss DTSA claim where plaintiff alleged misappropriation of, inter alia, business plans, financial plans and forecasts, business strategies, market information and analysis); Medidata Sols., Inc., v. Veeva Sys. Inc. , 2018 WL 6173349, at *3-4 (S.D.N.Y. Nov. 26, 2018) (denying motion to dismiss DTSA claim where plaintiff alleged misappropriation of, inter alia, business plans, strategies concerning marketing, sales, research and technology initiatives, emerging growth areas and opportunities; and expansion opportunities). The court also agrees that Albany Road plausibly alleged that it adequately protected its confidential information by requiring Tryder to execute a confidentiality agreement, and by imposing access control on its computer and data systems containing confidential information. Finally, having alleged that Tryder, an officer of Albany Road, intends to appropriate a business opportunity he developed with another Albany Road employee using the company's trades secrets and resources, the Amended Complaint satisfies the elements of the remaining claims. Tryder to answer the Amended Complaint by 8/3/2020. The parties to exchange initial disclosures by 8/24/2020, and serve written interrogatories and document requests by 9/21/2020. Amendment of pleadings and joinder of parties no later than 12/11/2020. Fact discovery to close 2/12/2021. The parties to notify the court by 1/15/2021 whether they intend to engage in expert discovery. If no experts are utilized, dispositive motions to be filed by 3/12/2021, opposition in 21 days and reply by leave of court only. If experts are utilized, opening reports to be served 3/12/2021, rebuttal reports 4/9/2021, expert discovery closes 5/7/2021, dispositive motions to be filed 6/4/2021. The parties to contact the docket clerk for this session, Arnold Pacho (617-748-9812) by 12/11/2010 if they would like to participate in the court-sponsored mediation program. The parties are also reminded that until such a time they seek and the court enters a case-specific confidentiality agreement, the court's default protective order (attached) governs the exchange of confidential information. (Tang, Danni) |
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Wednesday, July 08, 2020 | ||
41 | 41
![]() Opposition re32 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorney's Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) filed by Albany Road Real Estate Partners LLC. (Brown, Nicholas) |
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Tuesday, July 07, 2020 | ||
40 | 40
order
Order on Motion to Seal Document
Tue 07/07 2:12 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting38 Motion to Seal Document as it relates to plaintiff's asserted trade secret. (Tang, Danni) |
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39 | 39
order
Order on Motion for Leave to File Excess Pages
Tue 07/07 2:10 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting37 Motion for Leave to File Excess Pages - plaintiff may file an opposition to motion to dismiss of no more than 25 pages ; Counsel using the Electronic Case Filing System should now file the document for which leave to file has been granted in accordance with the CM/ECF Administrative Procedures. Counsel must include - Leave to file granted on (date of order)- in the caption of the document. (Tang, Danni) |
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38 | 38
![]() Assented to MOTION to Seal Document by Albany Road Real Estate Partners LLC.(Brown, Nicholas) |
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37 | 37
![]() Assented to MOTION for Leave to File Excess Pages filed by Albany Road Real Estate Partners LLC.(Brown, Nicholas) |
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Friday, June 19, 2020 | ||
36 | 36
order
Order on Motion for Extension of Time to File Response/Reply
Fri 06/19 11:31 AM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting35 Motion for Extension of Time to File Response/Reply re32 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorney's Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) Responses due by 7/8/2020 (Tang, Danni) |
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Thursday, June 18, 2020 | ||
35 | 35
![]() MOTION for Extension of Time to 07/08/2020 to File Response/Reply to Defendant's Motion to Dimiss by Albany Road Real Estate Partners LLC.(Brown, Nicholas) |
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Wednesday, June 10, 2020 | ||
34 | 34
![]() AFFIDAVIT in Support of Request for Attorneys' Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) .(Cloherty, Daniel) |
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33 | 33
![]() MEMORANDUM in Support re32 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorney's Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) filed by Mark Tryder. (Cloherty, Daniel) |
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32 | 32
![]() MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorney's Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) by Mark Tryder.(Cloherty, Daniel) |
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31 | 31
order
Order on Motion for Leave to File Excess Pages
Wed 06/10 3:46 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting30 Motion for Leave to File Excess Pages - defendant may file a motion to dismiss of up to 25 pages; Counsel using the Electronic Case Filing System should now file the document for which leave to file has been granted in accordance with the CM/ECF Administrative Procedures. Counsel must include - Leave to file granted on (date of order)- in the caption of the document. (Tang, Danni) |
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30 | 30
![]() Assented to MOTION for Leave to File Excess Pages by Mark Tryder.(Cloherty, Daniel) |
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29 | 29
order
Order on Motion to Seal Document
Wed 06/10 2:37 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting28 Motion to Seal Motion to Dismiss as it relates to plaintiff's asserted trade secret. Defendant to note that a redacted version of the motion should be filed on the public docket. (Tang, Danni) |
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28 | 28
![]() Assented to MOTION to Seal Document by Mark Tryder.(Cloherty, Daniel) |
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Wednesday, June 03, 2020 | ||
27 | 27
order
Order on Motion for Extension of Time to Answer
Wed 06/03 2:31 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting Assented to MOTION for Extension of Time to June 10, 2020 to File Response as to23 Amended Complaint. (Pacho, Arnold) |
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26 | 26
![]() Assented to MOTION for Extension of Time to June 10, 2020 to File Response/Reply as to23 Amended Complaint,, by Mark Tryder.(Cloherty, Daniel) |
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Tuesday, May 26, 2020 | ||
25 | 25
order
Order on Motion for Extension of Time to File Response/Reply
Tue 05/26 2:47 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting24 Motion for Extension of Time until 6/3/2020 to respond to Amended Complaint. (Tang, Danni) |
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24 | 24
![]() Assented to MOTION for Extension of Time to June 3, 2020 to File Response/Reply to First Amended Complaint by Mark Tryder.(Cloherty, Daniel) |
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Wednesday, May 13, 2020 | ||
23 | 23
![]() AMENDED COMPLAINT against Mark Tryder, filed by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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Att: 1
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Saturday, May 09, 2020 | ||
22 | 22
order
Order on Motion for Miscellaneous Relief
Sat 05/09 11:23 AM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting21 Motion File Amended Complaint Under Seal. Albany Road may file its Amended Complaint (or an exhibit thereto) under seal, keeping in mind that a redacted version must be filed on the public docket. The court does not require "voluminous financial analysis and modeling," Mot. at 4, nor does the court believe such information would be helpful to the court to limn the allegedly misappropriated trade secret. "The burden is on the party claiming trade secret status to identify the specific trade secrets at issue 'with clarity that can be understood by a lay person and distinguish what is protectable from that which is not.'" Tr. Safe Pay, LLC v. Dynamic Diet, LLC , 2017 WL 3974949, at *8 (D. Mass. Sept. 8, 2017) (citation omitted). (Tang, Danni) |
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Friday, May 08, 2020 | ||
21 | 21
![]() MOTION To Impound Confidential Business Information and Trade Secrets by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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Monday, April 27, 2020 | ||
20 | 20
![]() NOTICE of Appearance by Nicholas Paul Brown on behalf of Albany Road Real Estate Partners LLC (Brown, Nicholas) |
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19 | 19
order
Order on Motion to Dismiss for Failure to State a Claim
Mon 04/27 12:04 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered finding as moot12 Motion to Dismiss for Failure to State a Claim per Dkt # 18. (Tang, Danni) |
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18 | 18
order
Order
Mon 04/27 12:03 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered. By way of its Complaint, Albany Road Real Estate Partners LLC, an investment firm, alleges that Mark Tryder, a former Vice President, left with plans for an "office to hotel" business opportunity in violation of his employment agreement. The "office to hotel" concept, briefly, is to lease a floor of office space and to convert it into hotel rooms. According to the Complaint, Tryder (with another former colleague) developed business plans for the opportunity using Albany Road's resources, but refused to turn them over upon his departure. Albany Road asserts claims for misappropriation of trade secrets under the federal Defend Trade Secret Act (DTSA) (Count I) and the Massachusetts statutory counterpart and common law (Count II); breach of contract (Count III), breach of fiduciary duties (Count IV); and unjust enrichment/constructive trust (Count V). Albany Road and Tryder both being based in Massachusetts, the DTSA claim is the sole basis for federal court jurisdiction in this matter. Having considered Albany Road's allegations with all favorable inferences, the court nonetheless cannot discern the nature of the trade secret allegedly misappropriated. Under the DTSA, the term "trade secret" means all forms and types of financial, business, scientific, technical, economic, or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, programs, or codes, whether tangible or intangible, and whether or how stored, compiled, or memorialized physically, electronically, graphically, photographically, or in writing if-- (A) the owner thereof has taken reasonable measures to keep such information secret; and (B) the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, another person who can obtain economic value from the disclosure or use of the information; 18 U.S.C.A. § 1839. The "office to hotel" concept described in the Complaint, without more, is far too general (and at least by the Complaint's disclosure, not a secret) to constitute a trade secret of "economic value." The Complaint's conclusory references to business plans or financial models also cannot suffice. Accordingly, Albany Road is directed to submit an Amended Pleading with a more definite statement of the allegedly misappropriated trade secret(s) no later than 5/13/2020. Tryder's motion to dismiss shall be DENIED AS MOOT in light of this order.(Tang, Danni) |
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Friday, April 24, 2020 | ||
17 | 17
order
Order on Motion for Extension of Time
Fri 04/24 2:07 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting16 Motion for Extension of Time until 5/13/2020 to respond to motino to dismiss. (Tang, Danni) |
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![]() Assented to MOTION for Extension of Time to May 13,2020 to Oppose Defendant's Motion to Dismiss by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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Thursday, April 16, 2020 | ||
15 | 15
![]() NOTICE of Appearance by Alycia M. Kennedy on behalf of Mark Tryder (Kennedy, Alycia) |
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Wednesday, April 15, 2020 | ||
14 | 14
![]() AFFIDAVIT in Support re12 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorneys' Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) .(Cloherty, Daniel) |
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13 | 13
![]() MEMORANDUM in Support re12 MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorneys' Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) filed by Mark Tryder. (Cloherty, Daniel) |
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12 | 12
![]() MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM and Request for Attorneys' Fees Pursuant to 18 U.S.C. sec. 1836(b)(3)(D) by Mark Tryder.(Cloherty, Daniel) |
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Tuesday, April 07, 2020 | ||
11 | 11
order
Order on Motion for Extension of Time to Answer
Tue 04/07 1:14 PM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting10 Assented to MOTION for Extension of Time to April 15, 2020 to File Response to1 Complaint. (Pacho, Arnold) |
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Monday, April 06, 2020 | ||
10 | 10
![]() Assented to MOTION for Extension of Time to April 15, 2020 to File Response/Reply to Complaint by Mark Tryder.(Cloherty, Daniel) |
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9 | 9
![]() NOTICE of Appearance by Daniel J. Cloherty on behalf of Mark Tryder (Cloherty, Daniel) |
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Tuesday, March 10, 2020 | ||
8 | 8
order
Order on Motion for Extension of Time
Tue 03/10 8:31 AM
Judge Richard G. Stearns: ELECTRONIC ORDER entered granting7 Motion for Extension of Time until 4/6/2020 to respond to Complaint. As def.'s attorney has not yet made an appearance on the docket, pl.'s attorney is responsible for service of this order on defendant. (Tang, Danni) |
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Monday, March 09, 2020 | ||
7 | 7
![]() Joint MOTION for Extension of Time to April 6, 2020 to for Defendant to Respond to Complaint by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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Friday, March 06, 2020 | ||
6 | 6
![]() Summons Issued as to Mark Tryder. Counsel receiving this notice electronically should download this summons, complete one for each defendant and serve it in accordance with Fed.R.Civ.P. 4 and LR 4.1. Summons will be mailed to plaintiff(s) not receiving notice electronically for completion of service. (McDonagh, Christina) |
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5 | 5
notice
Notice of Case Assignment
Fri 03/06 3:16 PM
ELECTRONIC NOTICE of Case Assignment. Judge Richard G. Stearns assigned to case. If the trial Judge issues an Order of Reference of any matter in this case to a Magistrate Judge, the matter will be transmitted to Magistrate Judge M. Page Kelley. (Finn, Mary) |
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4 | 4
![]() CORPORATE DISCLOSURE STATEMENT by Albany Road Real Estate Partners LLC. (Francis, Jeffrey) |
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3 | 3
![]() CORPORATE DISCLOSURE STATEMENT by Albany Road Real Estate Partners LLC. (Francis, Jeffrey) |
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2 | 2
![]() Civil Cover Sheet & Category Sheet by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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1 | 1
![]() COMPLAINT against Mark Tryder Filing fee: $ 400, receipt number 0101-8144218 (Fee Status: Filing Fee paid), filed by Albany Road Real Estate Partners LLC.(Francis, Jeffrey) |
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