The defendants brought a motion for summary judgment to dismiss the plaintiffs' action, which alleged that the defendant breached an ad hoc fiduciary duty owed to them regarding an option agreement and an equity position in a pharmaceutical company.
The court found that the defendant made no commitment or undertaking to the plaintiffs that would give rise to a fiduciary duty.
Furthermore, the court held that the action was an abuse of process, as it was an attempt to re-litigate issues concerning the option agreement that had already been decided against the plaintiffs in a previous proceeding against the estate's executor.
The defendants' motion for summary judgment was granted and the action was dismissed.
