Legal Opinion
Adar Bays, LLC v. Genesys Id, Inc.
District Court, S.D. Illinois
Decided September 20, 2018No. 17-cv-01175 (ALC)PublishedCited by 8 opinions
1Opinion of the Court
ANDREW L. CARTER, JR., United States District Judge:
Plaintiff Adar Bays, LLC ("AB") brings this action alleging breach of a Securities Purchase Agreement ("SPA") providing for the purchase and issuance of two Convertible Redeemable Notes ("Notes"). Plaintiff seeks summary judgment on its claims. Defendant GeneSYS ID, Inc. ("GNID") contends that the Notes are void as usurious, and accordingly moves to dismiss the complaint on usury grounds. For the following reasons, Plaintiff's motion for summary judgment is GRANTED and Defendant's motion to dismiss is DENIED.
BACKGROUND
I. Factual Background
The…
2Cases cited30 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Matsushita Electric Industrial Co., Ltd. v. Zenith Radio CorporationSupreme Court of the United States · 1986
- Hicks v. BainesCourt of Appeals for the Second Circuit · 2010
- Rubin Sira v. R. Morton, C. Artuz, D. Selsky, and G. GoordCourt of Appeals for the Second Circuit · 2004
25 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Adar Bays, LLC v. GeneSYS ID, Inc.Court of Appeals for the Second Circuit · 2022
- GMI Group, Inc. v. UNIQUE FUNDING SOLUTIONS, LLCUnited States Bankruptcy Court, N.D. Georgia · 2019
- J.P. CAREY ENTERPRISES, INC. v. CUENTAS, INC., F/K/A NEXT GROUP HOLDINGS, INC.Court of Appeals of Georgia · 2021
- LG Capital Funding, LLC v. Exeled Holdings Inc.District Court, S.D. New York · 2022
- LG Capital Funding, LLC v. PositiveID CorporationDistrict Court, E.D. New York · 2022
3 more not listed; retrieve them via the Exa API.