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Civil litigation

breach of fiduciary duty

Breach of fiduciary duty is a cause of action or claim in civil litigation (lawsuits) that provides the legal basis for a person or entity to recover its damages/losses when there is a special relationship based on trust and confidence (attorney and client or trustee and beneficiaries) and the party who owes the fiduciary duty breaches its duty of loyalty (conflict of interest) or duty of care (informed judgment in decision-making).

In Florida, a breach of fiduciary duty occurs when an individual or entity, who is obligated to act in the best interest of another party due to a relationship of trust and confidence, fails to do so. This breach can involve a conflict of interest, where the fiduciary acts for their personal benefit rather than for the benefit of the party to whom the duty is owed, or a failure to exercise informed judgment, which is a lapse in the duty of care. Common relationships involving fiduciary duties include those between attorneys and clients, trustees and beneficiaries, and corporate directors and shareholders. To establish a breach of fiduciary duty in Florida, the plaintiff must demonstrate the existence of a fiduciary relationship, the breach of the duty by the fiduciary, and damages directly caused by the breach. Remedies for such a breach may include compensatory damages, restitution, and in some cases, punitive damages. Florida courts may also impose constructive trusts or order equitable relief to address the consequences of the breach.

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Articles

Fiduciaries and Their Duties: Upholding Trust in Transactions

Why does it matter if someone has a fiduciary duty, and how does it impact both everyday people and businesses? Today, we’ll take a look at this important legal concept to demystify the concept of fiduciaries and the responsibilities they bear.

Civil litigation

breach of fiduciary duty

Individual & Family Legal Plan

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Florida State Code

Florida State Code

Civil litigation

breach of fiduciary duty

Articles