Jung Ja Malandris v. Merrill Lynch, Pierce, Fenner & Smith Incorporated

I agree with most of the analysis in the carefully crafted majority opinion. But in important respects I disagree and, therefore, must dissent.

The trial judge here refused to grant a new trial sought by Merrill Lynch on grounds that the actual and punitive damages awards were grossly excessive. As an appellate court reviewing that denial, we apply the well-established abuse of discretion standard. Eg., Brown v. Richard H. Wacholz, Inc., 467 F.2d 18 (10th Cir.1972); Barnes v. Smith, 305 F.2d 226 (10th Cir. 1962). This Circuit has firmly stated that “absent an award so excessive or inadequate…