Breach of Fiduciary Duty

A fiduciary duty is an obligation that certain people owe to others due to a special relationship between the parties. People such as stockbrokers, bankers, executors, lawyers, agents and, the like, who are in a unique position to exert influence and control over personal and financial areas of one’s affairs can be held liable when one is injured through their wrongful conduct. Oftentimes fiduciary duties are owed by corporate officers and directors, particularly in small, closely held corporations, which can result in claims of minority shareholders against the corporation. Also, claims of Breach of Fiduciary Duty can be alleged against developers and condominium associations for irregularities in the pre-turnover bookkeeping.