Fiduciary duty is the responsibility of an agent to act in somebody else’s best interest. In a corporate sense, that generally means that officers and directors have the responsibility to act in the best interest of the company, not themselves personally. A breach of fiduciary duty, a violation of that responsibility, can give rise to a shareholder or partner dispute. Some of the questions and issues to consider in connection with fiduciary duty include:
- The extent of fiduciary duty between shareholders or partners
- What are the limits of fiduciary duty between majority shareholders and minority shareholders.
- To what extent can a majority shareholder exercise benefits of being majority before it crosses the line of breach of fiduciary duty.
- Whether conduct constitutes a breach of fiduciary duty or legitimate business purpose.
Horowitz Law Offices represents clients in shareholder and partner disputes. You are welcome to call us at 312 787 5533 or firstname.lastname@example.org.