Fiduciary duties may exist in a variety of business relationships. Where a party undertakes to act primarily for the benefit of another in a matter or matters, that relationship gives rise to a fiduciary relationship. A fiduciary, like a trustee, is subject to a higher degree of duty that obligates the fiduciary to act in a diligent and faithful manner to further the other’s best interests.
For example, majority shareholders and directors of a corporation owe fiduciary duties to minority shareholders. Partners owe fiduciary duties to the other partners. Banks and brokers owe fiduciary duties to their customers and clients. Lawyers owe fiduciary duties to their clients.
Burg Simpson has extensive experience in handling breaches of fiduciary duty, both from the plaintiff’s side and the defense side and we have litigated many cases involving a breach of fiduciary duty. If you are engaged in a dispute that may involve a breach of fiduciary duty, we can help counsel you about your rights and legal obligations, as well as represent you in negotiations, settlement, or trial.