In Budri v. FirstFleet, Inc., an employee sued his employer and supervisor for a number of causes of action, including a claim for breach of fiduciary duty. No. 3:19-CV-0409-N-BH, 2019 U.S. Dist. LEXIS 188251 (N.D. Tex. September 20, 2019). The federal magistrate recommended dismissing the breach of fiduciary duty claim because there were no

David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, presented “Detecting Elder Abuse and The Duty to Report Financial Exploitation” to the Southwest Association of Bank Counsel on Thursday, September 26, 2019, in Santa Fe, New Mexico.  This presentation focused on factors to detect the two main tools of elder abuse, undue influence and mental incompetence, and also discussed a financial institution’s duty to report elder abuse to the proper authorities.  David also discussed financial institutions’ potential liability risk for failing to detect and report elder abuse. The paper, PowerPoint, and a recent CFPB alert on elder abuse are attached.

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In In re Amerisciences, a bankruptcy trustee sued a bankrupt company’s former officers for breach of fiduciary duty regarding the theft of trade secrets. No. 18-20394, 2019 U.S. App. LEXIS 20635 (5th Cir. July 11, 2019). The jury found for the trustee, and the officers appealed. The court of appeals addressed whether there was sufficient evidence of damages to support the breach of fiduciary duty claim:

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In Garcia v. Communities in Schools of Brazoria County, a director sued a nonprofit’s board for breach of fiduciary duty arising from his removal. 2019 U.S. Dist. LEXIS 97017 (S. D. Tex. June 10, 2019). The board alleged that he did not have standing to bring such a claim, and the district court agreed:

The OCC recently issued an advance notice of proposed rulemaking  (ANPR) regarding the scope of activities that are fiduciary in nature, as well as the requirements of non-fiduciary custody activities of national banks, federal thrifts and federal branches of foreign banks. In particular, the OCC is considering amending the definition of “fiduciary capacity” to include