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Breach of Fiduciary Duty

The term “fiduciary” is meant to include those persons who have legal responsibility for managing someone else’s money. Common fiduciaries are trustees of private trusts, investment advisors, and investment committees of retirement plans. A fiduciary must always act in the best interest of the person for whom he has fiduciary responsibility. This means that he must not act in any way that is contrary to the interest of the client …

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