A lawsuit regarding a residential property development, in which the Plaintiffs made claims against the developer of the project, its lenders, appraisers, and others under the Interstate Land Sales Full Disclosure Act, and for fraud, breach of fiduciary duty, and breach of contract, among others, fell within the Business Court’s mandatory jurisdiction. Some of the Defendants’ marketing had been done over the internet. The Court held:
This case involves material issues of corporate law and issues related to the internet and electronic commerce. This case specifically raises issues of corporate governance and fiduciary duties—areas of law plainly listed in N.C. Gen. State. § 7A-45.4(a)(1) as grounds for mandatory complex business designation. Furthermore, making sense of the complex relationships between the Defendants brings this action properly before the Business Court. The assignment of one presiding judge and use of the Business Court Rules will allow for the most efficient administration of justice. Lastly, the Chapter 11 filing made by several of the Defendants in this case is likely to add to the complexity of this litigation. Under these circumstances, mandatory complex business designation is proper.