The Emerging Legal Relationship between an Investment Banker and Its Client : An Argument for a Fiduciary Relationship

Fiduciary duty claims are becoming a hot topic. Increasingly plaintiffs in a variety of commercial situations are suing under some fiduciary duty theory. Fornerly, fiduciary duties were only imposed on persons occupying some special position such as trustee or guardian. Lately, however, the courts, in a limited number of circumstances have begun taking a second at creating or expanding certain fiduciary duties. There are many legitimate arguments for limiting the extension of the fiduciary duty doctorine. Nonetheless, because of the changing conditions and demands in certain select areas of our commercial world, the imposition of fiduciary duties may be appropriate. The investment-banking field is one such area