Breach of Fiduciary Duty
A fiduciary duty is the highest loyalty duty recognized by Virginia law. The duty can arise in a variety of business contexts. For example, an employee generally owes his employer a fiduciary duty during the time of employment, although one can make arrangements for subsequent employment with care. Certain professionals owe a fiduciary duty to their clients to safeguard their money and their private information. Accountants, financial advisers, and anyone who handles other people’s money generally are required to honor fiduciary duties to their principals.
Virginia case law is complex regarding breach of fiduciary duty as it is a tort that frequently arises from the premise of a contractual relationship. Experienced counsel is key to evaluating whether a claim of breach of fiduciary duty is defensible or one that can be pursued. Fill out our contact form for more information.