Breach of Fiduciary Duty Lawyer in San Antonio, TX

Name: Scheuerman Law Firm, PLLC
Telephone: (210) 236-0500
Price range: Free Consultation

A fiduciary duty exists when one party is legally obligated to act in the best interests of another. This is of critical importance in business relationships. Fiduciaries failing to meet their obligations can have far-reaching consequences, resulting in business disruption and significant financial harm. Our experienced breach of fiduciary duty attorneys in San Antonio can help you navigate this type of complex case and ensure your business interests are protected.

San Antonio Breach of Fiduciary Duty Attorneys

This is of critical importance in business relationships. Fiduciaries failing to meet their obligations can have far-reaching consequences, resulting in business disruption and significant financial harm. Our experienced breach of fiduciary duty attorneys in San Antonio can help you navigate this type of complex case and ensure your business interests are protected.

What Types of Business Relationships Involve Fiduciary Duties?

Fiduciaries in business are entrusted with a high level of responsibility and have a duty to prioritize the interests of the entities or individuals they represent. They may include directors, officers, partners, agents, and trustees. Fiduciary duties often arise in the following types of relationships:

Partnerships and joint ventures: Partners owe a duty of loyalty and good faith to each other.
Agents and principals: An agent must act in the best interests of the principal and take no actions that harm the principal’s interests.
Corporate officers and directors: Officers and directors have a fiduciary duty to act in the best interests of the corporation and its shareholders.

man in glasses on the phone while holding up paper

What Are the Duties of a Fiduciary?

Although duties can vary, depending on the nature of the relationship, the following are some common fiduciary duties:

Duty of care: A fiduciary must exercise due diligence, make informed decisions, and act with the level of care a reasonably prudent person would use under the same or similar circumstances.
Duty of loyalty: Fiduciaries must act in good faith and refrain from engaging in actions that benefit themselves at the expense of their principals.
Duty of good faith: A fiduciary has a duty to act honestly and with integrity in all dealings on behalf of the principal.
Duty of confidentiality: A fiduciary privy to sensitive business information must keep it confidential and not use it for personal gain.

How Do Breaches of Fiduciary Duty Occur?

A breach of duty occurs when a fiduciary fails to meet their obligations by action or omission. The following are some common examples:

Misappropriation of assets: Using company funds or resources for personal purposes constitutes a clear breach of fiduciary duty.
Conflict of interest: When a fiduciary is in a position in which personal interests conflict with his or her duty to act in the best interests of the principal, a conflict of interest exists.
Failure to disclose information: Withholding material information can be considered a breach of duty. Fiduciaries are obligated to provide full and accurate information to partners or shareholders.
Negligence: A fiduciary who fails to exercise reasonable care in making decisions that lead to harm for the principal or business may be held liable for breach of fiduciary duty.
Self-dealing: Breaches can occur when fiduciaries use their positions to benefit themselves financially, particularly when it is to the detriment of the shareholders or the business.

What Are the Legal Remedies for Breach of Fiduciary Duty?

If you are dealing with a breach of fiduciary duty, legal remedies to protect your interests may include the following:

Damages: The fiduciary may be required to compensate the injured party for financial losses.
Disgorgement of profits: Any profits or benefits the fiduciary gained through breach of duty may be returned to the principal.
Injunction: The court may issue an injunction to prevent the breaching fiduciary from taking further harmful action.
Contract recission: A contract detrimental to the principal entered into by the fiduciary may be rescinded.

If you need exceptional legal representation, Scheuerman Law Firm is the right choice. Our board-certified breach of fiduciary duty lawyers in San Antonio have decades of experience representing business and property owners in all areas of litigation.

Call us for direct communication, personalized care, and tailored expertise if a breach of fiduciary duty has occurred.