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Tag Archives: Breach of Fiduciary Duty

Tort/Negligence – Breach of Fiduciary Duty – Banks & Banking – Financial & Development Advisor – Real Property – Civil Practice – Venue (access required)

WNC Holdings, LLC v. Alliance Bank & Trust Co. Where the defendant-bank acted as a financial and development advisor to the plaintiff-borrower, the bank owed the borrower a fiduciary duty. Defendants’ motions to dismiss are granted in part and denied in part. The bank’s motion to change venue is granted.

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Tort/Negligence – Breach of Fiduciary Duty – Corporate – Piercing the Veil – Unfair Trade Practices (access required)

Green v. Freeman Where corporate documents listed defendant Corrina Freeman as majority shareholder, “Chairperson,” “CEO,” and “Owner/Chairperson,” a juror could reasonably infer that Ms. Freeman was an officer or director in the defendant-companies and a majority shareholder and therefore owed a fiduciary duty to plaintiffs as minority shareholders.

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Insurance – Life – Labor & Employment – ERISA – Equitable Relief – Breach of Fiduciary Duty (access required)

McCravy v. Metropolitan Life Ins. Co. A bank employee who paid for life insurance for her daughter through her employee benefit plan, but who was denied insurance benefits when her 25-year-old daughter died, has her claim for “equitable relief” for the insurance carrier’s breach of fiduciary duty reconsidered by the 4th Circuit, in light of CIGNA Corp. v. Amara, 131 S. Ct. 1866 (2011).

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Tort/Negligence – Breach of Fiduciary Duty – Unjust Enrichment – Unenforceable Oral Contract – Landlord/Tenant – Prior Summary Ejectment (access required)

Holloway v. Holloway Although a familial relationship by itself is not enough to prove a fiduciary duty, the plaintiff-mother proved the defendant-son owed her a fiduciary duty after he convinced her to move from California to North Carolina so he could take care of her while she lived in a modular home that he owned.

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Tort/Negligence – Breach of Fiduciary Duty – Aiding & Abetting — Civil Practice – Standing – Res Judicata – Bankruptcy – Corporate (access required)

Phillips & Jordan, Inc. v. Bostic Even if North Carolina recognizes the tort of aiding and abetting a breach of fiduciary duty, plaintiff has not alleged such a tort. Plaintiff alleges that each defendant owed it a fiduciary duty; therefore, none of them could have been outside aiders and abettors.

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Tort/Negligence – Breach of Fiduciary Duty – Aiding & Abetting – Corporate Officer & Director (access required)

Tong v. Dunn If North Carolina recognizes the tort of aiding and abetting a breach of fiduciary duty, plaintiffs’ allegations are insufficient to state such a claim. Plaintiffs allege that defendant Wylie – both an officer and a director of defendant Engineous Software, Inc. – assisted the Engineous directors in breaching their duties and, since Wylie’s acts as an officer are imputed to the corporation, the corporate defendants are liable for aiding and abetting. However, such an allegation falls within the intra-corporate immunity doctrine. Wylie’s actions cannot give rise to aider and abettor liability under these circumstances because Wylie stands in a direct fiduciary relationship with Engineous, the alleged victim.

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Tort/Negligence – Breach of Fiduciary Duty – Corporate Officer – Misappropriation of Trade Secrets – Broad Allegations – Unfair Trade Practices – Conspiracy – Interference with Contract (access required)

Aecom Technology Corp. v. Keating By alleging that defendant Keating was one of plaintiffs’ corporate officers, plaintiffs have sufficiently alleged that Keating owed plaintiffs a fiduciary duty. Defendants’ motion to dismiss is denied as to plaintiffs’ breach of fiduciary duty, unfair trade practices, and conspiracy claims. Defendants’ motion to dismiss is granted as to plaintiffs’ misappropriation of trade secrets and tortious interference with contract claims.

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