Is there a limitation on the amount of damages that can be awarded in a securities arbitration case?

Yes, there is a limitation on the amount of damages that can be awarded in a securities arbitration case in Tennessee. This limitation is referred to as a “statutory cap” and it is set by the Tennessee Securities Act. According to the Act, the arbitration panel cannot award any more than $500,000 per party per claim. This means that the total amount of damages that can be awarded to all parties involved in a single arbitration case cannot exceed $500,000. It is important to note that the statute also sets a limit on the amount of punitive damages that can be awarded. Generally, punitive damages are awarded when a party has acted intentionally and with reckless disregard for the rights of another. Under the Tennessee Securities Act, the amount of punitive damages that can be awarded is capped at a maximum of three times the actual amount of damages. In addition to these limits, the Tennessee Securities Act also prohibits any award of attorney fees to be paid by the defendant. This means that, even if a party is successful in the arbitration case and is awarded damages, the defendant will not be required to pay the plaintiff’s attorney fees. Overall, Tennessee has clear limitations on the amount of damages that can be awarded in a securities arbitration case. While these limits help to ensure that arbitration awards are fair and reasonable, it is important for potential plaintiffs to understand them before proceeding with a case.

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Is there a limitation on the amount of damages that can be awarded in a securities arbitration case?

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