Can a securities arbitration award be appealed on the basis of legal errors?
Yes, a securities arbitration award in Oregon can be appealed on the basis of legal errors. This kind of appeal is called a motion for review, or a Rule 60(b) motion. These motions must be filed with the court within 30 days of the arbitration award being issued in order to be considered. When filing the motion, the person making the appeal must submit evidence of the legal errors that were made. This may include things such as a decision that was based on an incorrect interpretation of the law, or a decision that goes against established legal precedents. The court may then grant a hearing to review the evidence presented. The court may then choose to either affirm the arbitration award, or reverse it based on the legal errors. If the court finds that legal errors were made, the court can order the arbitration award to be amended or overturned completely. Keep in mind, however, that the court may only reverse the award if there is clear evidence of misconduct or legal errors. It is not possible to have an award reversed based on a disagreement with the outcome. The court is only allowed to review the award for legal errors, and it does not have the power to change the outcome on its own.
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