Wyoming Jury Instruction - 3.3 Breach of Fiduciary Duty
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FAQ
There is no statutory right to a jury trial under ERISA. For this reason, breach of fiduciary duty claims have historically been considered equitable claims to be heard by a judge.
Breach of fiduciary duty cases is very fact-intensive. To gather the evidence that you need to win your case, you should hire an experienced business attorney immediately.
Fiduciaries are responsible for three main duties: the duty of loyalty, the duty of impartiality and the duty of care. If you fail to exercise any of these duties while you are acting under your fiduciary capacity, you will be found to be in breach of your fiduciary duties.
The fiduciary will typically be removed from his role of trust. If financial loss occurred because of the fiduciary's breach of duty, it is possible that the fiduciary will be held accountable for those losses and money will be awarded to those who were damaged which the fiduciary would have to pay.
Winning a Breach of Fiduciary Duty Complaint The plaintiff must prove that the defendant failed their duty by withholding pertinent information, by misappropriating funds, abusing their position of influence, failing in their responsibilities or misrepresenting the statement of fact.
Available remedies for a breach of fiduciary duty can include: Lost profits. Out of pocket losses. Mental anguish damages. These must be separate from monetary losses and must be foreseeable. Exemplary damages. Also called punitive damages, these damages are awarded to punish the responsible party or parties.
What are the Damages for a Breach of Fiduciary Duty in Colorado? As with other tort claims, a plaintiff may recover economic, noneconomic, and punitive damages. However, it is important to note that the ?economic loss rule? may apply to a lawsuit that includes an allegation of breach of a fiduciary duty.
Elements. A plaintiff alleging a breach of a fiduciary duty ?must prove (1) existence of a duty owed, (2) breach of that duty, (3) resulting injury, and (4) that the claimed breach proximately caused the injury.? Micro Enhancement Int'l, Inc. v. Coopers & Lybrand, LLP, 110 Wn.