Facts

In 2013, Jan Samzelius and Christian Olsson founded NeuraMetrix, Inc., a neurotech startup company that analyzed users' idiosyncratic typing cadence in order to measure and monitor brain health. Plaintiff David Epstein doing business as Epstein Advisors entered into convertible promissory notes with defendant. The first note was in the amount of $100,000 and the second note was in the amount of $55,000. By December 22, 2019, the notes matured and payments of principal and interest became due. Plaintiff contacted other NeuraMetrix investors to solicit assignment of their claims for payments due under the notes. Eventually the other investors agreed to allow plaintiff to add claims related to the investors' notes to plaintiff's first and second note. Plaintiff David Epstein filed a breach of contract cause of action against defendants NeuraMetrix, Inc., Jan Samzelius and Christian Olson in relation to the two notes.

PLAINTIFF'S CONTENTIONS: Plaintiff contended that despite its demand for payment, he has not been paid the amount owed on the first note and on the second note. Plaintiff contended that he is entitled to summary judgment on defendants' second affirmative defense because the written assignments of claims to him from NeuraMatrix noteholders were valid as a matter of law. Plaintiff contended that defendants owe plaintiff damages no less than $645,000 in unpaid principal.

DEFENDANT'S CONTENTIONS: Defendant denied plaintiff's contentions. Defendant contended that plaintiff could not prove he has standing as a matter of law because plaintiff failed to comply with the anti-assignment provisions in the assigned claims.

Result

The court granted plaintiff's motion for summary judgment.