Fiduciary Breaching Duty
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FIDUCIARY BREACHING DUTY To establish a breach of fiduciary duty, a plaintiff must prove the existence of:
a fiduciary relationship; misconduct, including situations of self dealing or personal interest conflicts; the fiduciary injuring or acting contrary to the interests of the person to whom a duty of loyalty is owed; and damages that were directly caused by the defendant s misconduct.
See Birnbaum v. Birnbaum, 73 N.Y.2d 461, 466, 539 N.E.2d 574 (N.Y. 1989) [1-3]; Doe v. Roman Catholic Diocese of Rochester, 51 A.D.3d 1392, 1393, 857 N.Y.S.2d 866, 867 (N.Y. App. Div., 4th Dep t 2008), rev d on other grounds, 12 N.Y.3d 764, 907 N.E.2d 683, 879 N.Y.S.2d 805 (N.Y. 2009), rearg. denied 12 N.Y.3d 879, 910 N.E.2d 1003, 883 N.Y.S.2d 173 (N.Y. 2009) [15]; Kurtzman v. Bergstol, 40 A.D.3d 588, 590, 835 N.Y.S.2d 644 (N.Y. App. Div., 2d Dep t 2007) [1-5]. Statute of Limitations Causes of action for breaches of fiduciary duty are governed by a three-year statute of limitations when only monetary damages are requested, and a six-year statute of limitations when equitable relief is sought. The statute of limitations is tolled until the fiduciary has openly repudiated his or her obligation or the relationship has been otherwise terminated. See Bouley v. Bouley, 19 A.D.3d 1049, 1050, 797 N.Y.S.2d 221, 223 (N.Y. App. Div., 4th Dep t 2005).
a fiduciary relationship; misconduct, including situations of self dealing or personal interest conflicts; the fiduciary injuring or acting contrary to the interests of the person to whom a duty of loyalty is owed; and damages that were directly caused by the defendant s misconduct.
See Birnbaum v. Birnbaum, 73 N.Y.2d 461, 466, 539 N.E.2d 574 (N.Y. 1989) [1-3]; Doe v. Roman Catholic Diocese of Rochester, 51 A.D.3d 1392, 1393, 857 N.Y.S.2d 866, 867 (N.Y. App. Div., 4th Dep t 2008), rev d on other grounds, 12 N.Y.3d 764, 907 N.E.2d 683, 879 N.Y.S.2d 805 (N.Y. 2009), rearg. denied 12 N.Y.3d 879, 910 N.E.2d 1003, 883 N.Y.S.2d 173 (N.Y. 2009) [15]; Kurtzman v. Bergstol, 40 A.D.3d 588, 590, 835 N.Y.S.2d 644 (N.Y. App. Div., 2d Dep t 2007) [1-5]. Statute of Limitations Causes of action for breaches of fiduciary duty are governed by a three-year statute of limitations when only monetary damages are requested, and a six-year statute of limitations when equitable relief is sought. The statute of limitations is tolled until the fiduciary has openly repudiated his or her obligation or the relationship has been otherwise terminated. See Bouley v. Bouley, 19 A.D.3d 1049, 1050, 797 N.Y.S.2d 221, 223 (N.Y. App. Div., 4th Dep t 2005).
