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Directors, Officers and Fiduciary Liability

Have you or your organization been harmed by someone you trust?

The attorneys at Lewis & Roberts are often retained to review and prosecute cases involving the performance or malfeasance of fiduciaries. Meaning those who are legally bound to act in the best interests of others – such as the directors and officers of a corporation, or the trustee of an estate. We represent people, institutional fiduciaries, or companies who have been wronged by those in positions of trust, such as: corporate officers and directors, trustees, financial advisors, investment banks, and attorneys. Often these claims involve allegations of dishonesty, embezzlement, ERISA violations, or neglect in the discharge of a fiduciary’s responsibilities.

Listed below are examples of common claims against fiduciaries, such as Directors and Officers:

Allegations of Wrongful Acts 

  • Conflict of interest
  • Fraudulent conduct, reports, financial statements or certificates
  • Breach of conduct
  • Torts
  • Violation of statutes
  • Violation of provisions of articles or by-laws
  • Improper self-dealing
  • Acquiescence in conduct of fellow directors engaged in improper self-dealing
  • Transactions with companies in which officers, directors or trustees are personally interested

Allegations of Financial Mismanagement

  • Inefficient administration resulting in losses
  • Sale of assets for unreasonably low prices
  • Wasting of assets
  • Extension of credit where not warranted
  • Failure to ascertain whether extension of credit is warranted

Allegations of Fraud, Mistakes or Errors in Judgment

  • Failure to disclose material facts
  • False or misleading reports
  • Dissemination of false or misleading information
  • Permitting organization to make improper guarantees

Allegation of Negligence 

  • Continual absence from meetings
  • Failure to examine reports and documents before signing
  • Failure to detect and stop embezzlement of organizational funds
  • Failure to file annual report
  • Failure to require withholding tax
  • Failure to inspect organization books and records to keeps abreast of its activities
  • Failure to supervise the activities of others in a proper manner
  • Failure to verify facts in official documents before signing them and filing them
  • Shirking responsibility

If you or your organization have been harmed by a person or entity in a position of trust, you may have a legal claim against them. Because Lewis & Roberts accepts clients on a contingent fee basis, clients seeking representation need not expect a multi-million dollar bill for attorneys' fees at the conclusion of their litigation. If your case is appropriate for representation on a contingent fee basis, you will owe no attorneys' fee for the litigation unless and until there is a monetary settlement or court verdict in your favor. Justice should not depend on whether you are wealthier than the person or entity that harmed you.

If you have a business case you would like us to review, please call Jim Roberts in the Firm’s Raleigh office (919-981-0191). 

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