Boca Raton Breach of Fiduciary Duty Lawyer
Seek Legal Assistance from a Boca Raton Business Attorney
The most basic duty of a fiduciary is the duty of loyalty. This duty obligates the fiduciary to place the best interests of the party they are representing ahead of his or her own interest. This will completely restrict the fiduciary from taking advantage of the relationship for his or her personal gain.
The duty of loyalty gives the fiduciary the following duties:
- Prohibition against self-dealing
- Conflicts of interest
- Duty to disclose material facts
My name is Gregg H. Glickstein, and I have been fighting for the rights of my clients in Boca Raton for more than 35 years. Throughout this time, I have gained a solid reputation and various accolades for my success as a business litigation attorney, including being AV® Rated by Martindale-Hubbell® and a membership with the Florida Bar Association. With my assistance, I can help you hold the responsible parties accountable and maximize your chances of securing a desirable outcome for your case.
Make sure your rights are protected – call my office today at (561) 953-6662.
How Fiduciary Duty Arises
Fiduciary duty can arise either expressly or impliedly. The differences are defined below:
A fiduciary duty arises expressly when the parties agree to engage in a fiduciary relationship, such as that of an agent and principal. Florida State statutes impose a fiduciary duty in specific relationships, such as the following:
- Corporate director/shareholder
- General partner/limited partner
- Managing members of LLC/members of LLC
A fiduciary duty can also be required by law, even when there has not been a contractual relationship or one established by formal writing. This will take place when one party relies on the other to protect his or her best interests and act on his or her behalf. To have this sort of fiduciary relationship established, the following will have to be brought forth:
- Factual allegations that demonstrate the dependency of the party
- Undertaking by the proposed fiduciary to advise, counsel, protect, or benefit the dependent.
Fiduciary Duty Cannot be Unilaterally Imposed
In order for a fiduciary duty to be established, the person who allegedly owes the fiduciary duty must agree to serve the interests of the dependent. Neither party can unilaterally create a fiduciary relationship with another to impose a fiduciary duty on the other.
Breach of Fiduciary Duty
When it comes to vindicating a breach of fiduciary duty, both legal and equitable options are available. Some of the equitable remedies include:
- Imposition of a constructive trust
- Disgorgement of profits or commissions
- Injunctive relief
Legal remedies may include:
- Tort actions for compensatory damages
- Tort actions for punitive damages
It is typically difficult to determine when a fiduciary duty exists because it is a fact-intensive inquiry. Conclusory allegations that one party had his or her “trust and confidence” in the other is not enough to please a cause for a breach of the fiduciary relationship.
With my legal counsel, I can examine the facts of your specific situation and help you determine if a fiduciary relationship exists and assist in making the determination if a breach has occurred. If a breach has indeed occurred, I can determine the most appropriate course of action and advocate on your behalf.
Request Your Initial Consultation
If you have been betrayed or taken advantage of by a party with whom you have placed your trust and confidence or you have been falsely accused of betraying another based on an alleged fiduciary relationship, turn to my firm.
I am prepared to make every effort to ensure that your rights are protected. As a highly experienced Boca Raton business lawyer, I can walk you through the process of filing a lawsuit and provide tenacious advocacy to protect your interests every step of the way.
Make sure your case is in good hands – contact my office today!