SAN FRANCISCO – A North Carolina resident alleges a San Francisco business failed to pay the principal and interest due under a note.
Dhruv Gupta filed a complaint on Dec. 14 in the San Francisco Superior Court against Shipbird Inc., Marc Diamond and Does 1-10 alleging breach of contract.
According to the complaint, on March 10, 2017, Gupta and Shipbird entered into a convertible promissory note that was payable in one year and provided 5 percent interest per annum. He alleges he demanded payment when the note matured and Diamond, who controls Shipbird's operations, informed him Shipbird was insolvent.
The plaintiff holds Shipbird Inc., Diamond and Does 1-10 responsible because the defendants allegedly failed to pay all principal and interest due under the note. He alleges he was damaged in the amount of at least $200,000 in principal and $15,000 in interest.
The plaintiff requests a trial by jury and seeks judgment for general, special and compensatory damages; prejudgment interest; costs of suit; and such other and further relief as the court deems just and proper. He is represented by Nitoj P. Singh of Dhillon Law Group Inc. in San Francisco.
San Francisco Superior Court case number CGC18572100