Are there any limits on what kind of awards can be given in a securities arbitration case?
In Kansas, there are certain limits on what types of damages can be awarded in a securities arbitration case. Generally, these include compensatory damages, punitive damages, interest, costs, and attorneys’ fees. Compensatory damages are intended to make the injured party “whole” by paying them back for any losses they incurred due to the wrongful actions. Punitive damages, on the other hand, are meant to punish the wrongdoer for their bad actions and serve as a deterrent to future wrongdoing. Interest is another type of award which compensates the injured party for the “time value of money” that they lost due to the wrongful actions. Costs refer to any out-of-pocket expenses that the injured party may have incurred as a result of the wrongful actions, such as court costs. Lastly, attorneys’ fees are usually awarded to cover the legal fees either party may have incurred from their attorneys. In addition to these, awards can also be limited by the rules of the particular securities arbitration procedure. For example, some rules may limit the amount of damages an injured party can be awarded, or may provide that certain damages are non-recoverable. Therefore, it is important to consult with an experienced lawyer familiar with securities arbitration law and the particular procedure that is being followed before filing a securities arbitration case.
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