What is the test for a plaintiff to bring a claim for breach of fiduciary duty?
MultiRegion, United States of America
The following excerpt is from Dorado v. Shea Homes Ltd. P'ship, 1:11-cv-01027 OWW SKO (E.D. Cal. 2011):
To state a claim for breach of fiduciary duty, a plaintiff must show: (1) the existence of a fiduciary relationship; (2) the breach of that relationship; and (3) damage proximately caused by the breach. Roberts v. Lomanto, 112 Cal.App.4th 1553, 1562 (2003). However, "[a]bsent special circumstances ... a loan transaction is [an] at arms-length [transaction] and there is no fiduciary relationship between the borrower and lender." Oaks
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