Web Media, Inc., designed software to enable its clients to sell their products or services over the Internet. Peter Rich served as a Web Media vice president until $2000,$ when he became president. Rich was dissatisfied that his compensation did not include stock in Web Media, but he was unable to negotiate a deal that included equity $($that is shares of ownership in the company$).$ In May, Rich solicited MPQ Corp.$$s business for Web Media while he investigated employment opportunities with MPQ for himself. When MPQ would not include an $$equity component$$ in a job offer, Rich refused to negotiate further on Web Medial$$s behalf. A few months later, Rich began to form his own firm to compete with Web Media, conducting organizational and marketing activities on Web Media$$s time, including soliciting MPQ$$s business. Rich had all e$-$mail pertaining to the new firm deleted from Web Media$$s computers in August, and then resigned. MPQ signed a contract with Rich$$s new firm and paid it $$400,000$ for work through October $2001.$Web Media filed a suit in a federal district court against Rich, claiming that he usurped a corporate opportunity. Did Rich breach his fiduciary duty to Web Media? Explain.