Court of Chancery Dismisses Action for Lack of Equitable Subject Matter Jurisdiction

Investview, Inc. et al. v. UIU Holdings LLC, et al., C.A. No. 2025-0327-BWD (Del. Ch. Nov. 21, 2025)

This action involves a financial technology company, a sale-and-leaseback program, and a dispute arising out of the defendants’ alleged failure to honor a customer protection plan and to obtain related insurance. The plaintiffs sued for declaratory relief, breach of contract, fraudulent inducement, and unjust enrichment. Defendants moved to dismiss for lack of subject matter jurisdiction and for failure to state a claim. The Court found that the complaint failed to allege an equitable claim. Plaintiff’s sole purported jurisdictional hook was a request for specific performance, an equitable remedy, in connection with honoring the customer protection plan. Focusing on the complaint’s allegations in determining jurisdiction, the Court found that an action for money damages related to the funds due under the protection plan would provide an adequate remedy at law. Accordingly, the Court dismissed the complaint and granted leave to transfer the action to the Delaware Superior Court.