Florida’s Civil Private Right of Action for Financial Abuse

Posted on November 15th, 2017 at 12:08 PM
Florida’s Civil Private Right of Action for Financial Abuse

From the Desk of Jim Eccleston at Eccleston Law LLC:

Under Florida law, there is a private right of action for “vulnerable adults” to file a civil lawsuit for financial exploitation. A “vulnerable adult” is a person 18 years or older whose ability to perform his or her own care or protection is impaired due to mental, emotional, sensory, long-term physical, or development disability.

According to the statute, which is cited as Florida Statute. 45.1111 § (2017), a vulnerable adult may recover actual or punitive damages, reasonable attorney fees and costs if he or she can prove that there was exploitation from a person who stands in a position of trust and confidence. Moreover, in order to find liability, the vulnerable adult must prove that a person knowingly, by deception or intimidation, obtained or used the vulnerable adult’s assets, or property with the intent to temporarily or permanently deprive the vulnerable adult of the use, benefit, or possession of the funds, assets, or property.

Any action for damages under this statute can either be brought by the valuable adult, or that person’s guardian, personal representative, as well as by a person or organization acting on behalf of the vulnerable adult.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law, Eccleston, James Eccleston, Eccleston Law LLC

Return to Archive

TESTIMONIALS

Previous
Next

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.

 

May 15, 2024
NFA Issues Order Against 50.ai Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.