Fiduciary & Shareholder Litigation
Fiduciary obligations arise in relationships and circumstances that most people, including many lawyers, would never imagine. The person who is deemed a fiduciary carries a heavy responsibility and is exposed to extensive liability if he or she fails to faithfully carry out that duty. The scope and weight of that responsibility can be surprising to the business operator who holds a majority ownership interest and attempts to act without regard to the minority interest owners.Related Services
Business owners are frequently unfamiliar with the prohibitions against oppression of minority interest owners and the remedies available to co-owners. The resulting litigation involving shareholders, members of limited liability companies, or partners is complex in every respect, i.e., procedure, liability analysis, and damages. MacDonald Illig attorneys have significant experience in counseling individuals about these matters and litigating these claims.
MacDonald Illig's experience in litigating fiduciary matters extends well beyond disputes between business owners. Our lawyers had significant involvement in handling lawsuits involving the liability of trustees, agents, brokers, and personal representatives. These cases have involved misappropriation of assets, violation of the prudent investor rule, unsuitable investments, as well as the simple breach of the duty of care.