What is an economic tort?

An economic tort is a legal wrong that harms another party’s economic interests. It can refer to any tort that is perpetrated against a company and causes a disruption of that company’s ability to conduct business or make a profit. Economic torts are governed by state law in Kansas, and are often pursued through civil lawsuits. The most common economic torts are fraud, misappropriation of funds, and breach of fiduciary duty. Fraud is the intentional misrepresentation of facts or withholding of important information for personal gain. Misappropriation of funds is when someone wrongfully uses a company’s money for their own benefit. Breach of fiduciary duty occurs when a company’s key employees or directors act contrary to the interests of the company, such as suggesting that a company invest in a shady stock. In Kansas, economic torts are not always covered by the state’s Anti-Trust Act, which typically only applies to disputes involving multiple companies. However, victims of economic torts can pursue relief through other state laws, such as the Kansas Consumer Protection Act. Victims may also be entitled to damages or even punitive damages if the tort involves particularly egregious conduct.

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