Breach of Fiduciary Duties
Fiduciary litigation often arises when those entrusted with managing financial assets fail to act in the best interest of the beneficiaries they serve. A recent case involving Universal Music Group (UMG) and the rock band Limp Bizkit highlights the high stakes of fiduciary responsibilities in the entertainment industry. According to Rolling Stone (via MSN), a…
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A bitter legal battle is unfolding between optometrist billionaire Herbert Wertheim and his ex-wife, Nicole Wertheim, who alleges that he misappropriated millions of dollars from family trusts. At the heart of their dispute is a claim that Herbert moved significant funds out of the trusts intended to benefit the family, creating a legal crisis that…
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A fiduciary duty is a legal obligation to act in the best interests of another person. This duty arises in relationships where one party trusts another to act with honesty and loyalty. These duties can arise by operation of law (de jure) or based on the facts and circumstances of a relationship (de facto). Common…
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Trust and estate litigation is a complex legal area concerned with disputes surrounding the management, administration, and distribution of assets. These disputes can arise from various issues, including the validity of a will, the interpretation of trust documents, or the actions of executors and trustees. Understanding the fundamental concepts is crucial for anyone involved in…
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In a surprising twist, a toy tycoon is suing an estate agent for allegedly concealing the identity of the buyer for his $79 million mansion. The seller, Leo Kryss, claims he would have demanded a higher price if he had known the buyer was none other than Jeff Bezos, the world’s second-richest person. The property,…
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Several causes of action may be pled in conjunction with a claim for breach of fiduciary duty, depending on the facts and circumstances surrounding the case. Attorneys should consider the following claims when filing a breach of fiduciary duty cause of action and determine which, if any, also apply to their clients:…
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Recent decisions by the North Carolina Court of Appeals and North Carolina Business Court (NCBC) shed light on a previously unsettled question of law: when can a North Carolina trial court award attorney’s fees as part of a class-action settlement in the absence of additional statutory authority? …
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