Minneapolis Lawyers To Defend Your Rights And Reputation
Business directors, shareholders and partners all have a strict fiduciary duty to act with the utmost discretion, honesty and good faith in all business dealings. An accusation of a breach of fiduciary duty can lead to serious, long-term consequences for you and your company, including negative publicity and possible monetary damages.
If you or your company has been accused of breaching a fiduciary duty, it is important that you work with a business law attorney who can help you defend your rights and interests. At Faricy Law Firm, P.A., our attorneys have decades of experience representing companies in Minnesota and across the country. No matter how complex your legal issue becomes, our law firm has the resources and the skills to guide you through the entire process. To schedule a free consultation to learn more, call us locally at 612.371.4400
Duty Of Loyalty And Duty Of Care In The Corporate World
A fiduciary duty is a legal responsibility to operate according to another party's best interests. These responsibilities permeate the business world, with examples including the following:
- A corporate manager's responsibility to his or her business stakeholders
- A partner's duty toward the other partners
- An executive's responsibility to the company
Fiduciary duties can be split into two categories: the duty of loyalty and the duty of care.
Under the duty of loyalty, business managers must always put the best interests of the company ahead of their own. Directors are not allowed to profit at the expense of their corporation, though they are able to profit along with the company.
Under the duty of care, business managers must show prudence and due diligence when making decisions for the company. However, this does not mean that a poor choice or a business failure will constitute a breach of fiduciary duty; as long as a business director acts in good faith, he or she will generally uphold the duty of care.
Prepared For All Breach Of Fiduciary Duty Cases
At Faricy Law Firm, P.A., our St. Paul attorneys have experience handling all types of breach of fiduciary duty accusations, including:
- Financial waste
- Mismanagement of company assets
Whether you have been accused of unduly profiting from corporate operations or of financial mismanagement, our lawyers will provide well-reasoned, professional legal defense at every step of the way. We understand the difficulties you are facing, not only from a legal standpoint but from a business perspective as well. As your law firm, we will do everything possible to limit or eliminate the negative consequences to you and your company.
We take an in-depth, personal approach to fiduciary issues, taking the time to fully investigate the issues our clients are facing. Once we understand the legal situation, we will develop an individualized defense strategy designed to put you in the best possible position.
Contact Faricy Law Firm, P.A.
If you or your company has been accused of failing to uphold your legal duties, contact the Minneapolis attorneys for breach of fiduciary duty at Faricy Law Firm, P.A. To schedule a free initial consultation, call 612.371.4400, or fill out our online form.