What are the most effective steps for resolving a breach of fiduciary duty dispute in San Diego and Southern California? Many business disputes between business partners, owners investors and shareholders often involve allegations of a breach of fiduciary duty. These cases require legal skill, experience and successful strategies.
What is a Fiduciary Duty?
The violation of a fiduciary duty is a serious offense as those who hold a fiduciary duty have a responsibility to act in your best interests and not to take advantage of your situation or take relevant actions without your knowledge or consent.
A fiduciary duty may be imposed by an agreement or by the law. The breach of a fiduciary duty can occur between corporate officers and directors and their corporation and shareholders, in a joint venture or even between a husband and wife. Partners have a fiduciary duty to one another just like agents do for their clients. In a business setting, most allegations of a breach of fiduciary duty arise out of stolen or lost money or a breach of reasonable care, confidentiality or loyalty.
What are the most effective strategies for resolving a breach of fiduciary duty dispute in San Diego?
Resolving a Breach of Fiduciary Dispute in San Diego
The Watkins Firm takes a unique approach to resolving a breach of fiduciary duty dispute in San Diego. We work to help our clients to recover lost money or profits, as well as appropriate financial damages associated with the breach of fiduciary duty. This begins with the development of a strong chronology of events and a mastery of available damages.
The Watkins Firm will craft a strong demand letter stating our client’s position financially and within the law in an effort to open effective, leveraged negotiations. This is the fastest and least expensive strategy for resolving a breach of fiduciary dispute in San Diego and Southern California. The Watkins Firm has more than 40 years of experience in these cases and is able to resolve the vast majority of business disputes through negotiation.
When negotiations are unsuccessful the filing of a lawsuit is often the next step. The parties become focused upon a settlement conference with the Court or business mediation. These are private, confidential legal settings that keep your personal, business and financial information out of the public record while focusing on a positive resolution of your case. The ultimate goal of a settlement conference or mediation is a settlement agreement.
Resolving allegations of a breach of fiduciary duty in San Diego are legally quite complex, requiring a technical understanding of federal and state laws. The legal burden of proof in breach of fiduciary cases lies with those who have been harmed by the breach. There are a number of viable defenses in these cases and most center around the actions of a fiduciary and whether or not they display sound judgment, timely action and appropriate due diligence.
Many situations and contractual obligations require binding business arbitration as an alternative to trial in a Court of Law. Arbitration is a lot like a trial, but much more efficient and condensed. The arbitrator is empowered to establish the rules the process will follow which includes the marshaling of evidence and witness testimony. The ruling or award of the arbitrator is final and can rarely be appealed.
In some cases, the violation may rise to a level of concern that the presider may order punitive damages to discourage others from similar behavior in the future.
If you are concerned about the actions of a fiduciary we invite you to review Our Podcast Episode 17 – Violation or Breach of Fiduciary Duty as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation to learn more about your unique circumstances and how we can help in your case.
