Breach of Fiduciary Duty
Full Video Transcript
You may have heard the term fiduciary duty before. It is a legal obligation to act in the best interest of another party. For example, the company's board of directors owe various fiduciary duties to its shareholders to run the company fairly and wisely. Trustees of the trust owe fiduciary duties to the beneficiaries to manage the assets in a trust responsibly and efficiently. Now these are very important legal duties. The law imposes these duties on people in positions of trust, because it would be impossible for the people relying on them into oversee every detail his or her work. If it is your duties are breached in compensatory damages maybe owed to the victims who were harmed as a result. If it is your duty can be breached in a verity ways such as it's a fiduciary act in his or her own interest instead interest other beneficiaries. If you suspect you have been harmed by fiduciary's breach of duties, contact entry in your area to discuss your legal options.