Companies in Fort Lauderdale have an obligation to protect their shareholders. When a business law dispute erupts between parties, a breach of fiduciary duty may be the cause of the dispute. Fiduciary duty refers to the responsibility one party has to act in the best interest of another party.
When a party breaches their fiduciary duty, the injured party may file a civil suit against them to pursue damages. In order to prove a breach, you must first establish that a fiduciary relationship in fact existed at the time of the dispute.
You will then need to show that the duty was breached in some way. You can show this by first establishing the scope of the fiduciary's duty. Then you will need to show the breach. A breach can occur when the fiduciary neglects their responsibilities, fails to disclose certain information, acts in their own self-interest or fails to act in the best interest of the client. Your final step will be proving damages that were caused by the fiduciary's breach.
If you can prove duty, breach, causation and damages, you may recover damages from your fiduciary. Any actual damages incurred may be covered, in addition to possible punitive damages. Punitive damages may be awarded if your fiduciary acted in bad faith or with malice. A breach in fiduciary duty is a betrayal in trust and your fiduciary should be held accountable for their mistakes. By filing suit against your fiduciary, you are protecting yourself as well as others who may do business with your fiduciary in the future.
Source: FindLaw, "Breach of Fiduciary Duty," accessed on Feb. 21, 2017