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Miami judge rejects breach of fiduciary duty suit

On Behalf of | Mar 24, 2014 | Business Litigation

From a confidentiality dispute to product liability or fraud, business litigation can take many forms. When disagreements arise, it is important to thoroughly evaluate every option and find the best way to move forward. For example, if someone is contemplating filing a lawsuit in Fort Lauderdale, they should do everything they can to familiarize themselves with Florida law. Whether a company has been facing unfair competition, deceptive trade practices or any other issue, it is crucial to address the situation properly.

A Miami judge recently rejected a suit that was filed by a development company in 2010. The lawsuit, which was filed against a former CEO, claimed that the man violated his fiduciary duties when he took on another development project. In their suit, the company requested a portion of the profits.

However, according to the judge, the ex-CEO was within his rights to take on the project. The judge believes that the former CEO had every right to accept other opportunities due to an independent activities clause and did not have to inform either the development company or its partners of the deal beforehand.

For some business owners, the legal system can seem like a hassle. After all, with tensions running high and a busy schedule that leaves limited spare time, some people could have reservations with taking their case to court. However, if someone is serious about tackling these types of problems and receiving what they deserve, they should take a look at their legal options. Anyone who is in this position may want to consider turning to an attorney.

Source: South Florida Business Journal, “Turnberry lawsuit against former CEO dismissed,” Brian Bandell, Feb. 27, 2014