In continuing my review of breach of fiduciary duty claims, (If you haven’t read my previous post click here), there may also be a possible claim for aiding and abetting a breach of fiduciary duty against each of the participants.
Below is a brief excerpt explaining how one might aid and abet a breach of duty.
A party can be liable for aiding and abetting a breach of fiduciary duty if he knowingly helps the other party breach the duty. Aetna Life Ins. Co. v. Appalachian Asset Mgt. Corp., 110 A.D.3d 32, 42 (1st Dept. 2013).
New York law permits an aiding and abetting claim against a party that knew of the breach and participated in it by providing substantial assistance to the primary violator.
Johnson v. Nextel Comms., Inc., 660 F.3d 131, 142 (2d Cir. 2011). Wrongful intent by the third party is not required; “only that the third party knew of the breach and participated in it.” Id.
If you have any legal questions or need help with fiduciary duties, please contact Attorney Scott Lanin at (212) 764-7250 x 201 or use the contact form in the right sidebar.