The defendants brought a motion for summary judgment to dismiss the plaintiffs' action for breach of a non-competition clause in a shareholders agreement and breach of fiduciary duty.
The parties, former joint venturers in real estate development, had a falling out.
The plaintiffs alleged the defendants breached the agreement by pursuing other developments without presenting them first.
The court found the non-competition clause was ambiguous, constituted an unenforceable agreement to agree, and lacked a reasonable time limit.
The court also rejected the plaintiffs' unpleaded argument regarding breach of statutory fiduciary duties under the Business Corporations Act.
The plaintiffs' action was dismissed in its entirety.
