Court rules on recent real estate disputes in another state
The essence of fiduciary duty is that one or more parties is obligated to fulfill a particular duty to another party or parties. The duty is said to be the highest standard of care. If the duty is breached, the party responsible may be held legally accountable for the actions if personal injury has been suffered in the process. In fact, the court ruled as such following recent real estate disputes in a location outside California.
A jury deliberated after a 4-week trial regarding whether a real estate company should incur monetary judgment because one of its employees had violated her fiduciary duty by scheming to move at least a dozen sales people to a different real estate company that also happened to be a staunch competitor of the company for which they'd previously been employed. The jury found that the real estate company was indeed financially accountable for the woman's actions. The court issued a judgment of nearly $5 million against the woman's employers.
During the woman's time serving as branch manager, she is said to have concocted a scheme to headhunt 12 employees from the competing real estate company located across the street from where her new employer was opening new branch offices. The company was ordered to pay its competitor punitive and compensatory damages. The jury found that not only did the woman breach her fiduciary duty, but her new employers assisted in the breach.
The chairman of the real estate company adversely affected by the scheme said he is extremely pleased with the court's decision. Real estate disputes like this one often wind up in litigation. A California business owner in need of experienced guidance to rectify to particular situation in this state can reach out to a real estate law attorney for help.
Source: greenwichtime.com, "Jury fines William Raveis millions in real estate dispute", Macaela J. Bennett, June 23, 2017