A breach of fiduciary duty claim is governed by either a three-year or six-year limitation period, depending on the nature of the relief sought ( see Yatter v. William Morris Agency, Inc., 256 A.D.2d 260, 261). The shorter time period applies where monetary relief is sought, the longer where the relief sought is equitable in nature ( see Matter of Kaszirer v. Kaszirer, 286 A.D.2d 598). Since plaintiffs primarily seek damages, and pursue an accounting merely to determine the amount of such damages ( see Lex Tenants Corp. v. Gramercy N. Assocs., 284 A.D.2d 278), the motion court properly applied the shorter, three-year limitations period, which bars plaintiffs' breach of fiduciary duty claims arising before 1998. The court, however, erroneously dismissed as time-barred plaintiffs' breach of fiduciary claims premised on the 2001 Settlement Agreement between defendants and one of their affiliates, the complained-of conduct having fallen well within the statutory period.
The motion court properly dismissed plaintiffs' breach of contract claim arising out of the 1992 Management Agreement as barred by the applicable six-year statute of limitations. Plaintiffs' assertion that the Agreement, although dated January 1, 1992, may not have been executed until years afterward, is purely speculative and inconsistent with the complaint, which alleges that the 1992 Management Agreement was entered into on January 1, 1992.
THIS CONSTITUTES THE DECISION AND ORDER OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.