LIable or Not?LIable or Not?

With litigation on the rise, fiduciaries and their advisors are striving to reduce or eliminate risk and understand how time-worn fiduciary principles may be applied in a world with volatile markets, changing trust and tax laws and a seemingly endless sea of lawyers looking for targets with deep pockets. The cases below provide recent examples of the perpetually evolving nature of fiduciary claims and guidance on how to navigate or avoid the many potential pitfalls.

Standing to Bring Surcharge Claim

In Scanlan v. Eisenberg,1 the U.S. Court of Appeals for the Seventh Circuit reversed a district court decision that a discretionary beneficiary lacked standing to bring a surcharge claim for $200 million in investment losses from investment c...