Advocating Against Breach Of Fiduciary Duty
When you are represented by another, you have a special relationship in which that person must act in your best interests. When your representative fails to do so, a breach of fiduciary duty has occurred.
The attorneys at the law firm of Palmer Lehman Sandberg, PLLC have more than three decades of experience representing local and national corporations in all aspects of business operations, in addition to other areas of law where special legal relationships exist. Contact our lawyers today for thoughtful and confident legal representation for your business disputes.
A fiduciary duty is a strict duty imposed by law in certain, special relationships. A duty is owed from:
- A trustee to the beneficiaries of a trust
- The board of directors of a corporation to its shareholders
- Business partners to the partnership
- Agents to the principal in a business transaction
- Real estate agent to his or her clients
A breach of fiduciary duty occurs in any situation where the person owing the duty acts in his or her own best interests rather than that of the person to whom they owe the duty. A breach can be as simple as an individual not being upfront with his or her business partner about his or her assets, or as complicated as a director taking advantage of an investment opportunity that was not adequately offered to the corporation which he or she serves.
In these situations, it is important to have the assistance of attorneys who have skill and experience handling business and corporate matters, as well as real estate issues, who understand the nature of these special relationships and therefore understand what kinds of situations constitute a breach of fiduciary duty.
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