# Breach of Fiduciary Duty in Florida

The Campbell Law Group P.A., 2121 Ponce de León Suite 540, Coral Gables, FL 33134. General information about Florida law, not legal advice.

### My business partner is taking money from the company. What can I do in Florida?

Taking company money for personal use can support a breach-of-fiduciary-duty claim, and sometimes related claims such as conversion or civil theft. The first practical steps are to preserve bank records, emails, and access logs, and to get advice before confronting the other owner in a way that destroys evidence. https://www.tclgfirm.com/practice-areas/business-litigation/breach-of-fiduciary-duty This is general information about Florida law, not legal advice, and it does not predict or guarantee any outcome.

### What counts as breach of fiduciary duty between business partners in Florida?

A breach is a failure of a duty of loyalty or care by someone in a position of trust, such as a manager, officer, or controlling owner. Self-dealing, diverting a company opportunity, hiding material facts, and misusing company assets are common examples. Not every disagreement between owners is a fiduciary breach. https://www.tclgfirm.com/blog/florida-llcs-outlining-the-fiduciary-duties-of-members-and-managers This is general information about Florida law, not legal advice, and it does not predict or guarantee any outcome.

### How long do I have to bring a fiduciary duty claim in Florida?

Breach of fiduciary duty claims generally must be filed within four years under Fla. Stat. 95.11. When the clock starts can depend on when the conduct happened and when it was or should have been discovered, so waiting to “see how it plays out” can bar the claim. https://www.tclgfirm.com/practice-areas/business-litigation/breach-of-fiduciary-duty This is general information about Florida law, not legal advice, and it does not predict or guarantee any outcome.

### Can I sue a partner for self-dealing or diverting business opportunities in Florida?

Yes, when the partner owed a fiduciary duty and took a company opportunity or dealt with the company for personal gain without the required disclosure and consent. The remedy, if any, depends on the harm and the governing documents. https://www.tclgfirm.com/practice-areas/business-litigation/breach-of-fiduciary-duty This is general information about Florida law, not legal advice, and it does not predict or guarantee any outcome.

### What kind of damages can be awarded for a breach of fiduciary duty?

When a fiduciary acts against the interests of its principal or for its own profit without the express consent of the principal, it may be met with serious litigious consequences.

Compensatory damages: This includes recovery of the amount of loss as a direct result of the breach of fiduciary duty, disgorgement of profit, and in some cases, lost profit and attorney fees.

Punitive damages: These damages are awarded to punish and deter such behavior again. The amount awarded usually corresponds with the severity of the actions or omissions of the fiduciary. Punitive damages are reserved for cases where the fiduciary has acted with great malice or fraud.

Equitable relief: This can take the form of accounting, injunctive relief, forfeiture, the appointment of a receiver, constructive trust, and rescission of the transaction or agreement.

https://www.tclgfirm.com/practice-areas/business-litigation/breach-of-fiduciary-duty