A breach of fiduciary duty is a legal concept that refers to the failure of a fiduciary to act in the best interests of the person or entity they have a duty to protect. Fiduciaries are people or entities who have been entrusted with the care of another person's property or interests. They can include financial professionals and securities firm. This means they must legally act in your best interest and put your interests above their own. If they fail to do so, they breach their fiduciary duty and may be liable for the loss of your investment.
There are many different ways that a fiduciary can breach their duty. Some common examples include:
Making a decision that is not in the best interests of the beneficiary.
Failing to disclose material information to the beneficiary.
Using the beneficiary's property for their own personal gain.
Engaging in self-dealing or theft.
Failing to act with reasonable care.
A breach of fiduciary duty can have serious consequences for the beneficiary. The beneficiary may be able to sue the fiduciary for damages. If you believe that a fiduciary has breached their duty to you, you should consult with our law firm to discuss your legal options.
Some of the elements that must be proven in order to establish a breach of fiduciary duty:
The existence of a fiduciary relationship.
The fiduciary had a duty to act in the best interests of the beneficiary.
The fiduciary breached their duty.
The beneficiary suffered damages as a result of the breach.
The burden of proof is on the beneficiary to prove all of these elements.
If you can prove that a fiduciary has breached their duty to you, you may be able to recover damages. Damages can include the amount of money you lost as a result of the breach, as well as other damages including punitive damages, attorneys fees, and interest.
If you are considering filing a lawsuit for breach of fiduciary duty, it is important to speak with an experienced securities attorney to discuss your case. An attorney can help you understand your legal rights and options, and can represent you in court if necessary.
If you've lost money as a result of a breach of fiduciary duty, contact us for options to recover investment loss.