Austin Breach of Contract Attorney
Lawsuits for Breach of Fiduciary Duty
Aggressive Representation in Austin, Texas
The law office of John McDuff in Austin, Texas has forced parties to pay damages for violating a position of trust or authority for their own financial gain. And, unfortunately, I must defend those who have had the words “fiduciary duty” thrown at them.
Fiduciary duty is a formal or informal obligation to protect the financial interests and general interests of another person, a business or an estate. The responsibilities are spelled out by statute or case-law, or elaborated in writing. And, circumstances may be such that the law requires someone to be a fiduciary to someone who is dependent upon them and trusts them.
Often there are parallel actions asserting fraud and breach of contract in the same lawsuit. Contact me at 512.457.1177 to discuss all potential causes of action against the wrongdoer — and any other parties complicit in or benefiting from the breach. (See conspiracy litigation.)
Scenarios in Fiduciary Duty Litigation
- A director of a corporation has a duty to bring a business opportunity to the company. Instead, he passes the tip to a friend who starts a business and the director makes an investment.
- The managing partner of a firm uses company funds and resources to establish a competing practice
- A stockbroker, realtor, lawyer, financial planner, tax accountant or other professional fails to reveal conflicts of interest and works for another to your detriment
- The executor of an estate steals property, misrepresents the liquidation of assets, or takes exaggerated “administrative expenses”
- The administrator of a trust (trustee) diverts funds or investment proceeds to personal use
I have also litigated cases in which no formal legal relationship existed. I have argued that a businessman who took financial advantage of his business associate’s declining mental capacity should have acted as his fiduciary, rather than preying upon him.
Breach of fiduciary duty is a tort: victims are entitled to compensation for economic loss and punitive damages.
Did someone violate a legal obligation to act in your interests? Did a director’s or executive’s disloyal actions tangibly harm the company? Call me at 512.457.1177 to arrange a consultation.