Fiduciary Duties In NY May Not Be In The Eyes Of Beholder

Law360, New York (October 3, 2013, 4:51 PM EDT) -- Clients in unhappy business relationships may proclaim that the “bad guys” are breaching their fiduciary duties. What, exactly, is a fiduciary relationship and what are the duties of fiduciaries?[1]

Just like U.S. Supreme Court Justice Potter Stewart’s observation about pornography, most people cannot explain fiduciary duty but (think) they know a breach when they see it.[2]

This note puts some flesh on the fiduciary bones for New York practitioners. However, the law in this area is very fact-intensive and surprisingly complex and fluid, as demonstrated by...
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