Fiduciary Duties Attorney in Austin, Texas
What is a breach of fiduciary duty?
What is a breach of fiduciary duty?
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00:04
so a breach of fiduciary duty is when
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you know someone is placed in a position
00:09
of trust
00:11
and they violate that trust such as a
00:13
corporate officer of a corporation a
00:15
director a president or a trustee who
00:18
has a fiduciary duty to that trust a
00:21
partner in a business deal has a
00:23
fiduciary duty to that partnership
00:25
if someone abuses that duty and self
00:28
deals or takes takes money for
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themselves engages
00:31
in a conflict of interest or competes
00:33
actively with that company that can be a
00:35
breach of that duty of trust they’re
00:37
supposed to put the interest of
00:40
their beneficiaries above all else
00:42
they’re supposed to look out for the
00:43
best interest of the corporation for
00:44
example or of the trust beneficiaries
00:47
and when they don’t look at through
00:48
those interests and instead are doing
00:50
stuff for their own benefit that’s what
00:52
is a breach of fiduciary duty
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Austin, TX commercial litigation attorney John R. McConnell explains what a breach of fiduciary duty is.
