Fiduciary Duties
In a recent decision from the North Carolina Business Court, Barings LLC v. Fowler, the court shed light on the critical importance of fiduciary duty in business leadership. Barings, a global asset management firm, alleged that Ian Fowler, one of its former officers and managing directors, breached his fiduciary duty by helping orchestrate the mass…
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In the wake of Tony Bennett’s passing inJuly 2023, his family has found itself embroiled in a complicated legal battle over his estate. At the center of this dispute are allegations from Bennett’s daughters, Antonia and Johanna Bennett, that Bennett’s son, D’Andrea “Danny” Bennett, failed to properly manage his father’s estate and ensure it was…
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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 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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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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These days, many financial advisors are promoting themselves as fiduciaries. But what exactly does that mean? And how can it benefit you? What is a fiduciary? A fiduciary is someone who has a legal obligation to act in the best interests of another person. This means that they must put your needs before their own.…
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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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If you have a will or have ever dealt with estate administration, you are probably familiar with the term “executor.” However, most people don’t know what an executor is or what the executor’s role is. Additionally, what do you do if you suspect an executor is behaving fraudulently or contrary…
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