Item: SAC Attorneys LLP
Rating: 5
Author: Cynthia F.

Claiming Damages for Breach of Fiduciary Duty

A common occurrence in many business settings, fiduciary relationships serve to ensure the highest degree of care and loyalty to a certain party. Fiduciary relationships are both legal and ethical, and they are often created to benefit another party financially. Establishing fiduciary duties from one party to another assures that the fiduciary will not act in a self-interested manner. While fiduciaries are contractually obliged to uphold their responsibilities, litigation may have to occur if they violate their promised duties.

If you are someone who has had a fiduciary violate their trust relationship with you, you may have experienced losses as a result. While the incident is undoubtedly frustrating for you, the financial costs incurred are not irrecoverable. By pursuing legal action, you may be able to receive compensation for the damages they incurred.

How Does a Breach of Fiduciary Duty Occur?

When a person agrees to act as a fiduciary, they promise to act in the best interest of the other party. Thus, a breach of fiduciary duty occurs when the fiduciary acts in a self-serving or self-interested manner. Most breaches take place due to either negligence or deception on the fiduciary’s behalf. Examples of breach of fiduciary duty include but are not limited to:

Sharing an employer’s secrets
Acting in a way that benefits a competitor
Embezzlement
Failing to oblige to the employer’s requests
Acting negligent in assigned duties
Generating profit for oneself at the cost of the employer

Elements of a Breach of Fiduciary Duty Claim

There are four main elements that must be demonstrated in a successful breach of fiduciary duty claim. By providing substantial evidence in support of these specific components, it is possible for the plaintiff to recover damages that the defendant caused. A plaintiff must be prepared to show that:

A fiduciary relationship existed where the fiduciary owed a duty to the principal
The fiduciary acted in a manner that contradicted, or breached, their expected duties
The principal suffered damages
The damages incurred were a direct result of the breach of fiduciary duty

Statute of Limitations

According to California’s Code of Civil Procedure section 343, the statute of limitations for a breach of fiduciary duty is four years. Depending on the circumstance, your case may even suit a cause of action for constructive fraud instead which has a statute of limitations of three years. As a result, it is important to contact an attorney, discuss your options, and file a claim as soon as possible.

In Need of a Civil Litigation Lawyer?

If you have experienced damages due to someone else’s breach of fiduciary duty, you may be entitled to receiving compensation from the defendant. To determine if business litigation is right for your circumstances, it is vital that you reach out to an experienced attorney as soon as possible. A breach of fiduciary claim can be complex, which is why an established law firm like SAC Attorneys LLP is here to help. To discuss your legal options and maximize your chances of success, please do not hesitate to contact us at (408) 436-0789 or through our website today.

★★★★★

Mr. Cai Is a Diligent Attorney. My sister and I were defendants in a civil litigation case. We hired James Cai and his law firm, SAC Attorneys LLP. Mr. Cai is a diligent attorney and responded to our questions in a timely fashion. He and his staff were very helpful in keeping us informed of the proceedings of the case and in explaining each step. Mr. Cai is also very conscientious of fees and costs, and avoided unnecessary charges. The results of the Summary Adjudication sided with us. The Court Trial resulted in the “Final Statement of Decision” and “Judgment after Court Trial” overwhelmingly siding with us. Cynthia F.

I Am Truly Impressed. After spending a significant amount of time, money and efforts with my previous counsel at a larger law firm without getting meaningful results, I transferred my employment matter to SAC Attorneys LLP. The attorneys there were able to understand the complex situations of my case and put together an aggressive litigation strategy. We were able to file a compelling complaint within a week and forced the opposing party, which was represented by one of the largest law firms in California, to make a substantial settlement offer shortly thereafter. I am truly impressed by the no nonsense and results oriented approach by SAC Attorneys LLP attorneys. A job well done! X. Gao

They Took Time to Understand Our Technology. I am the founder of a bioinformatics start-up in the Silicon Valley and chose SAC Attorneys LLP as our corporate counsels. Their attorneys have great experience with high tech start-ups and were able to offer a highly competitive service plan while not sacrificing a bit of their quality of services. They took time to understand our technology and provided value added services by introducing investors and job candidates to us. We regard our attorneys at SAC Attorneys LLP not only as our legal advisors but also our venture partners. Dr. Pete S.

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