Generally, in a cause of action for breach of fiduciary duty, the injured party may seek damages. For example, in a cause of action for breach of fiduciary duty between an agent and a principal, either party may pursue an action against the other for damages resulting from the disregard or breach of fiduciary duties owed to the other. For instance, under Florida law, the Economic Loss Rule does not bar a professional athletes' breach of fiduciary duty action against a sports agent arising from allegedly fraudulent investment schemes even though no personal injury or property damage was alleged, and even though oral or written contracts governed the investments. However, in an action against an agent who violates his or her fiduciary duty by entering into a fraudulent transaction, the agent is not required to pay the principal commissions that are untainted by the fraud at issue.

Additionally, a West Palm Beach business lawyer will advise a plaintiff that other remedies may exist for plaintiff in a cause of action for breach of fiduciary duty. Nominal damages can be awarded when a legal wrong has been proven, but the plaintiff has suffered no actual damages. Additionally may forfeit compensation to an agent if the facts warranting the principal's claim of forfeiture of compensation are clearly alleged and proved.

A cause of action for breach of a fiduciary duty may have many complex issues. Therefore, you should consult with an experienced West Palm Beach business lawyer. Call Sharmin & Sharmin P.A. at 1-800-74-TRIAL.