Freddie Gold and Wife, Goldie Gold, Cross-Appellants v. National Savings Bank of the City of Albany, Cross

KEITH, Circuit Judge.

This diversity case arises out of the alleged breach of a permanent financing agreement by the defendant bank. In answering a special interrogatory, the jury below found that the bank acted fraudulently in refusing to make a permanent loan to the plaintiffs. The jury awarded the plaintiffs $150,000 compensatory and $50,-000 punitive damages. The district court, however, granted a judgment n.o.v. regarding the punitive damages and ordered remittitur of $50,000 of the compensatory damages. Both parties appealed. For the reasons discussed below, we affirm the district…