A fiduciary duty is a legal duty to act solely in another party’s interests. Parties owing this duty are called “fiduciaries”.
The individuals to whom they owe a duty are called “principals”. What this all really means is that there has to be a foundation of trust for business and deals to succeed.
Trust is a basic requirement. Corporate executives, managers, directors, employees, and even outside partners are trusted and relied on to perform their duties in good faith, and with care, and loyalty to the organization.
Problems arise when these individuals fail to follow ethical and legal standards in dong their jobs. When things go wrong and your business is harmed, our firm works to make sure those responsible for your losses are also held accountable.
We represent clients that have been harmed by the inappropriate behavior of a banker, trustee, manager, corporate officer, business partner, lawyer, or other professional.
These claims may also involve allegations of fraud, information abuse, covering up tax and insurance liabilities, self-dealing, ignoring conflict-of-interest and other actions.
Determining the cause and assessing damages in these cases can be complex, involving the examination of thousands of documents, a thorough understanding of the financial issues, and disclosure of all the information that is relevant to the business relationship.
To be successful, it is usually necessary to illustrate how the breach of fiduciary duty occurred and what the consequential damages were and whether the conduct benefited the wrongdoer at the victim’s expense.
To learn more about our experience in breach of fiduciary duty matters, we invite you to contact the firm here.