Contact us today to schedule a consultation to discuss your case. At Callender Bowlin, our lawyers provide aggressive and efficient representation to our clients. Our firms’ attorneys will be able to analyze the situation, collect evidence, and pursue the best course of legal action to preserve your best interests and assets. Any award of damages against such recipient shall be limited to the actual damages resulting from the breach of fiduciary duty and shall in no event exceed the amount of compensation or payment received from such investment company, or the security holders thereof, by such recipient. If you suspect a breach of fiduciary duty including any possible violation of the duty of care, loyalty, good faith, confidentiality disclosure and fair dealing has occurred, you need to immediately contact an experienced business attorney. What To Do If A Breach In Fiduciary Duty Has OccurredĪ breach of a fiduciary duty is a serious allegation and can have significant detrimental consequences to a business. Duty of Disclosure – Fiduciaries must act with complete candor and in some instances must disclose all information relevant to a business decision.Duty of Prudence – Fiduciaries are required to exercise the degree of care, skill, and caution that any prudent fiduciary would use.Duty of Confidentiality – Fiduciaries are required to keep corporate information confidential and not disclose it for their own benefit.Duty of Good Faith – Fiduciaries are expected to advance the interests of their beneficiaries, not violate the law, and fulfill their duties.Duty of Loyalty – Fiduciaries are not allowed to use their position to further their own interests.Duty of Care – Before making any business decisions, fiduciaries must consider all information reasonably available to them.Some of the most common types of fiduciary relationships include:įiduciary duty refers to several duties imposed on fiduciaries by law. The duty owed by a fiduciary is one of loyalty and good faith, strict integrity and accountability, and fair and honest dealing. A fiduciary is expected to operate in the utmost good faith, candor, openness, honesty, and with a total absence of any concealment or deception. The elements of a claim for breach of fiduciary duty are: 1) there is fiduciary relationship between the plaintiff and defendant 2) the defendant breached his fiduciary duty to the plaintiff and 3) the defendant’s breach proximately caused injury to the plaintiff or benefit to the defendant. As a fiduciary, loyalty is owed and if a fiduciary has breached the duty of loyalty and trust and wrongfully benefitted, we can help. Our firm frequently litigates matters involving a breach of the fiduciary obligation and prevails in recovering not only damages but also a disgorgement of any money received by the party who breached the duty owed. While many fiduciaries uphold their duties, some put self-dealing before their beneficiaries. People such as trustees, business partners, and officers and directors, among others, are charged with acting in the best interest of those they represent. There is no higher duty imposed by law than the duty of a fiduciary to a beneficiary.
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