Legal Representation Over A Breach Of Fiduciary Duty In Texas
When one person must act in another’s best interests – or the best interests of a business or organization – it is known as having a fiduciary duty. That person must not put their own desires or benefits first but must make decisions with the other party’s interests in mind. When they fail to do so, it is a breach of their fiduciary duty, and the party that was harmed may take legal action.
Here at The Kerensky Law Firm, Michael Kerensky, PLLC, you can find the robust legal services you need when facing such complications in Houston. I am attorney Michael Kerensky, and I have more than 40 years of experience with business law and breach of fiduciary claims. I fight for justice for all of my clients. When you need an experienced lawyer who will put you first as you explore your legal options, I am here.
Three Elements Of A Breach Of Fiduciary Duty
A breach of fiduciary duty often impacts business owners, business partners, employees, shareholders, lawyers and many others in professional industries. Common examples are misusing company assets, failing to disclose a conflict of interests, abusing a potion of power for personal financial gain and misusing confidential information. When making such a claim, three main elements must be shown:
- A duty was owed: One party had a fiduciary duty and was supposed to act in the best interests of another.
- A breach occurred: That duty was breached, likely intentionally, when the other party acted in their own best interests.
- Damages can be shown: The breach of duty caused financial harm to the other party. For instance, a business partner used trade secrets for personal financial gain, harming the earning potential of the business.
When this happens, the party that was owed the duty – the business, in the example above – may be able to seek financial compensation to make up for the damages. Documenting the financial harm is an important step in the process.
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If you want to meet with me to discuss your options, please contact the office today by dialing 713-280-3274 or by using the online contact form. My staff speaks Spanish, so there is no language barrier. I often work on contingency fees and have reasonable hourly rates. I am here to help you explore your legal options and the steps you can take to obtain the compensation you deserve.