HOUSTON – A Hempsted man alleges he was not provided with a payout per the terms of an agreement he signed.
Thomas Payton filed a complaint on Sept. 18 in the Harris County District Court against Traxis Ventures LLC, Jose Reyes and Deonte Reyes alleging breach of contract and other counts.
According to the complaint, the plaintiff alleges that on Dec. 21, 2015, he entered into a contract with defendants and paid $24,000 in capital contribution to the joint venture to become a Redeemable Series A Preferred Member.
Due to defendants' alleged failure to provide a payout of the annual return, the plaintiff alleges he contacted the defendants in February to end his involvement in the venture. He alleges Jose Reyes deducted the plaintiff would be paid a payout of $26,400 in February. He alleges he responded that he would be willing to accept a $600 loss and collect $24,000 as a payout but the defendants failed to respond.
The plaintiff holds Traxis Ventures LLC, Jose Reyes and Deonte Reyes responsible because the defendants allegedly failed to provide with a payout as required under the agreement.
The plaintiff requests a trial by jury and seeks monetary relief between $100,000 and $200,000. He is represented by Gabrielle O. Ilochi and Nickolas A. Spencer of Spencer & Associates PLLC in Houston.
Harris County District Court case number 2018-65628