What Remedies are Available for Breach of Fiduciary Duty?
The most common remedies available for breach of fiduciary duty are:
(1) Constructive Trusts
(2) Account of Profits
(3) Compensatory Damages
In any breach of fiduciary duty action, there are a range of damages and remedies available. The goal is to make the party to whom the breach of fiduciary duty was made, whole. This sometimes includes the ability to recover attorneys’ fees if you prevail. This is a remedy not typically available under the “American Rule” that requires all parties, absent contract or a statute to the contract, to pay their own litigation fees and costs.
What Should You Do if You Believe You Have a Breach of Fiduciary Duty Claim?
When fiduciary duty disputes arise, it is very important to choose the right counsel with experience in fiduciary duty litigation. These duties are often very complex and fact-specific, and claims must be properly pled to be protected. The hurdles to fiduciary duty claims must be given due consideration, or you could risk losing the right to pursue such claims.
If you have any questions about fiduciary duty claims, or need advice and/or assistance in this area, please contact David TeSelle, Esq. or David Hersh, Esq., co-leaders of the Burg Simpson Commercial Litigation Trial Group, at Burg Simpson Eldredge Hersh and Jardine, P.C. by phone (303-792-5595) or email (dteselleaburgsimpson.com; dhershburgsimpson.com).