Illinois Breach of Fiduciary Duty
At Konicek & Dillon, P.C., our lawyers represent businesses that have suffered financial harm due to the actions of their directors and officers. We also represent officers and directors who are sued by their employers. We offer a free initial consultation to discuss your case.
A corporate director or an officer has a fiduciary duty both to the company and its shareholders. This is a higher level of responsibility than an employee of the company has. For example, an officer or director:
- Must act in good faith for the benefit of the business
- Must refrain from self-dealing
- Must make decisions on an informed basis and in the honest belief that the action is in the best interest of the corporation
The following are examples of breaches of fiduciary duty:
- Using business assets for personal benefits
- Steering business opportunities toward another business with which the officer or director is associated
- Standing on both sides of a transaction (for example, having a financial interest in a company doing business with his or her employer)
- Leaving the business without providing appropriate notice
If your business has suffered harm because an officer or director did not live up to his or her fiduciary responsibilities, you may have a right to recover compensation from the officer or director. With offices in Geneva and Chicago, we handle director and officer liability cases throughout Illinois.
Free Attorney Consultation
To discuss your case with our Chicago director and officer liability lawyers, call 630-313-2071 or fill out the contact form on this website. We offer blended hourly and contingency fees in many director and officer liability cases.