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Non-Compete Agreements

$0 Paid by Client in Settlement of Kings County Non-Compete Litigation

Awarded: $0

Defense of Over $550,000 in Breach of Contract Claims Against Mortgage Broker Settled for Under $20,000

Awarded: $17,000

Aiding and Abetting of Fraud Action Against Client Dismissed

Awarded: $0 - All Claims Against Our Client Were Dismissed

Plaintiffs' Federal Claims for Trespass, Negligence Against Client Dismissed

Awarded: Case Against Client Dismissed

$500,000 Judgment Against Developer Reduced by Over 2/3

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Breach of Fiduciary Duty Under NY Law

If you've been wronged by an employee, and you feel like they've betrayed your trust, your first inclination might be to think that they may be liable to you for breach of a fiduciary duty.
But is that true?
In most cases, the answer - at least under New York law - is no; fiduciary relationships are only created in very limited circumstances. And here is another, very important tidbit of information: you can't (successfully) bring a breach of fiduciary claim if it is based on the same set of facts as a breach of contract claim. The two claims cannot successfully coexist.
So, if you want to know who is (and isn't) a fiduciary under New York law, you will need to answer the following question:

Does the relationship between the two parties inherently - or automatically - entail a higher level of trust than would normally exist between two parties to an agreement?

To help clarify this concept further, here are some examples where New York's courts have found fiduciary relationships to exist in the following circumstances:

Financial advisors;
Corporate Officers and Directors;
Real Estate Brokers;
Business Partners; and (although my colleagues may be upset with my admission here),
Attorneys.

One of the trickier elements of a breach of fiduciary duty claim (other than its mutual exclusivity from a breach of contract claim) is that there is no hard and set rule on how long you have to bring one of these claims; as noted in "How to Calculate the Statute of Limitations for a New York Breach of Fiduciary Duty Claim," the time limit for these claims varies depending on the nature of the relief that is sought.

In short, breach of fiduciary duty claims are rather complicated - at least in New York. Therefore, if you believe you may have a viable breach of fiduciary duty claim, it is rather important that you contact a qualified attorney to discuss this issue to assure that you make the right decision for your case.

Blog for Breach of Fiduciary Duty

Library for Breach of Fiduciary Duty:

Why Proving Justifiable Reliance in a New York Fraud Claim Isn't Easy
Long Island, NY business litigation attorney describes how you can prove reliance - a critical element of a fraud claim in New York.
When A Whistleblower Can Sue for Wrongful Termination in New York
There is a very limited exception to the general rule that at-will employees can't sue when they're fired, notes Long Island, NY breach of contract lawyer.
One Powerful Way to Defeat a Fraudulent Inducement Claim in New York
Long Island, NY business litigation attorney Jonathan Cooper lays out the basic steps of how to defeat a fraudulent inducement claim in New York.
How to Calculate the Statute of Limitations for a New York Breach of Fiduciary Duty Claim
Long Island, NY business litigation lawyer Jonathan Cooper discusses how to calculate the statute of limitations for bringing a breach of fiduciary duty claim.
How Non-Solicitation & Breach of Fiduciary Duty Claims Overlap Under New York Law
Long Island, NY business litigation lawyer Jonathan Cooper discusses the overlap between breach of fiduciary duty and non-solicitation/non-compete claims in NY.
Who Is (and Isn't) a Fiduciary Under New York Law
Long Island, New York business litigation and breach of fiduciary duty attorney Jonathan Cooper explains who is - and isn't - a fiduciary under NY law.