NC Fiduciary Litigation Commentary
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.…
Legendary musician Brian Wilson, co-founder of the Beach Boys, was recently placed under a conservatorship by a Los Angeles court. This decision comes more than three months after the passing of his wife Melinda, who served as his primary caregiver. Following Melinda’s death, the responsibility of caring for Brian has fallen on his longtime publicist…
Baucom’s Nursery Co., a family-owned business that has been a staple in Charlotte for over 75 years, is embroiled in a bitter legal battle. The lawsuit pits Amon (Chip) Baucom Jr.’s side of the family against Gary Baucom’s side, with accusations of fraud, embezzlement, and self-enrichment flying. The dispute centers around allegations of financial mismanagement…
Many Americans face uncertainty about handling a loved one’s bank account after death. Almost half of Americans don’t have a will, according to a Gallup poll. This can make things complicated for your loved ones when you’re gone. Having a will allows you to designate who inherits your assets, including your bank accounts. Many bank…
On Tuesday, the Federal Trade Commission (FTC) voted 3-to-2 on the new rule to ban noncompete agreements for workers across the United States. Noncompete agreements prevent employees from leaving their place of work and going to other jobs within their industry. This new rule is designed to promote industry competition by “protecting the fundamental freedom…
Famous TV doctor Mehmet Oz—better known as “Dr. Oz”—recently accused his sister, Nazlim, of forging their late father’s will and stealing millions from his estate. A 2008 will left all of Mustafa Oz’s assets to the Mustafa Oz Foundation, a United States organization, and left Dr. Oz in charge of the foundation; however, Nazlim presented a…
Famous comedian and actor Bob Saget was tragically found dead in the bed of his Ritz Carleton hotel room in Orlando, Florida, on January 9, 2021, at age 65. As America was reeling from the sudden loss of their favorite TV dad, news broke that Saget died from blunt force head trauma, likely from an…
In 2019, banks BB&T Bank and SunTrust Bank announced a merger, with the new bank to be named Truist Financial Corporation (“Truist”). In response, Truliant Federal Credit Union (“Truliant”) filed a lawsuit alleging the name Truist infringes on Truliant’s trademark in its name. For a discussion of trademark law and trademark infringement, please see Lord…
In S&S Family Business Corp., et al. v. Clean Juice Franchising, LLC, the North Carolina Court of Appeals addressed the impact of a forum selection clause in a business contract. A forum selection clause is a contractual provision that, if enforceable, designates a particular state or court to bring any litigation between the parties. In…
In early February, Earth Fare announced it would be closing all of its stores, likely meaning each of its 3,000 employees would be laid off. In response, two employees of the Asheville-based grocery store chain filed a class-action lawsuit alleging Earth Fare violated the Worker Adjustment and Retraining Notification Act (the “WARN Act”). Generally, the…