Picciano v. Petricca
Court of Appeals for the First Circuit
1Opinion of the Court
CYR, Senior Circuit Judge.
On December 18, 1997, an arbitration panel convened by the National Association of Securities Dealers (NASD) ordered appellant Salvatore A. Fradella to pay ap-pellee Richard T. Petrieca $25,000 in compensatory damages. In subscribing the award the arbitrators purported to act pursuant to New York law. 1 One month later Fradella’s attorney wrote to NASD counsel, advising that the December 18 award was “imperfect as to form,” in that “it should reflect that the [arbitrators’] decision was made in accordance with Massachusetts, not New York, practice.”
On February 23,…
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