COMM 393 Chapter Notes -Fiduciary, Summary Judgment
Document Summary
Hodgkinson v. simms and waldman fiduciary duty. The plaintiff approached the defendant with the objective of receiving independent financial advice. After an initial consultation in which the plaintiff explained his circumstances and investment objectives, the defendant made the suggestion that hodgkinson purchase a stake in. Subsequently, the real estate market collapsed, and the plaintiff lost a substantial portion of his investment funds (,507. 62 in total. ) What the plaintiff did not know at the time, however, was that the defendant also acted on behalf of the firm the plaintiff invested in. As such, the plaintiff argued, the defendant should be held liable for his damages suffered due to the breach of fiduciary duty. This is a summary judgment of the supreme court"s finding that the defendant is in fact liable for breach of duty. Decisions: the defendant is found guilty for a breach of fiduciary duty, the defendant is ultimately liable for the losses suffered by the plaintiff.
