Legal Question in Wills and Trusts in Indiana

I am a trustee responsible for managing the investment of assets of a trust. I acquired material non-public information regarding one of the securities owned by the trust which indicated that the value of the security would substantially decrease. However, federal securities laws prohibited me from selling the security. The value of the security did in fact decrease substantially. I am concerned that a breach of fiduciary duty to protect the assets of the trust could be brought. If it is, can I use compliance with federal securities laws as a defense?


Asked on 1/28/10, 1:59 pm

1 Answer from Attorneys
Jay Rigdon Rockhill Pinnick LLP

This question should be answered by a specialist in the area, not through an online posting. Perhaps the trust agreement covers payment for legal advice to you?

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Answered on 2/03/10, 6:50 am


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