America's Growth Capital, LLC v. PFIP, LLC

FINDINGS OF FACT, RULINGS OF LAW, AND ORDER AFTER A JURY-WAIVED TRIAL

STEARNS, District Judge.

Based on the credible testimony and exhibits offered at trial, as well as the stipulations of the parties, I make the following findings of fact.

BACKGROUND

1. Founded in 1992, defendant Planet Fitness is a national gymnasium franchise.1 Michael Grondahl, his brother Marc Grondahl, and Christopher Rondeau were the sole owners of Planet Fitness from its inception until November 8, 2012, when the October 23, 2012 agreement to sell Planet Fitness to TSG Consumer Partners (TSG) was consummated.

2. Plaintiff…