Sawtelle v. Waddell & Reed, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Sullivan, J.
At issue on these cross appeals from the confirmation of an arbitration award of approximately $27 million in favor of a mutual fund broker is the rationality and legality of the award of $25 million in punitive damages. The award was based on a finding that the broker’s employer and certain of its representatives, in an attempt to compete with the broker after his termination, had interfered with his prospective business relations in violation of the Connecticut Unfair Trade Practices Act (Conn Gen Stat § 42-110a et seq. [CUTPA]).
Petitioner Stephen B. Sawtelle…
2Cases cited32 opinions
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- Pacific Mutual Life Insurance v. HaslipSupreme Court of the United States · 1991
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