One area of securities fraud that we handle is a breach of fiduciary duty. Unfortunately, this is a serious issue that occurs when someone you trust with your finances does something illegal or unethical that causes you to lose money. Proving a breach of fiduciary duty action requires you to keep these four elements in mind.
The Defendant Was a Fiduciary
As a fiduciary, the defendant holds a duty to ensure they should act with your best interests in mind. If you’re an investor, the fiduciary may be a broker, financial advisor, or financial institution who is tasked with protecting your investment to the best of their ability.
The Defendant Breach the Fiduciary Duty
In terms of securities fraud, a breach occurs when the fiduciary fails in their duty to protect your financial investment ethically. While you can never fully predict a market, it’s reasonable to expect that your broker or advisor wouldn’t do anything illegal or unethical to cause you to lose money.
You Suffered Financial Losses
To file an action against a fiduciary for breaching their duties, you must show that you suffered financial losses. For instance, you invested money into an opportunity, but you lost that money.
It Was the Defendant’s Actions That Caused the Damages
Causation is one of the most important factors in your claim. Showing that the fiduciary did something to cause you to lose money is vital. You can show that you lost money at the advisement of your fiduciary.
At Vernon Litigation Group, we work hard to protect investors when they need it most. Our Naples litigation lawyers commit to you and hold unethical fiduciaries accountable when their actions cost you money. We’re here for you every step of the way, and you can have peace of mind knowing we won’t back down from large financial institutions or the legal teams that represent them.
Call our firm today at (239) 319-4434 to discuss your breach of fiduciary duty case.