In that meeting they had privately agreed that they had a fiduciary responsibility to the City of New Orleans.

He said the court would also have to find the funds had a fiduciary duty to other creditors and investors.

The evil capitalists had these things called corporations, and these corporations had a fiduciary responsibility to be honest with their shareholders.

It used to be that those who managed these funds for others had a fiduciary duty that was focused on just short-term returns.

Brad Pacheco, a CalPERS spokesman, pointed out that directors elected by members were a minority and that the entire board had a fiduciary duty.