Are there any limitations on the amount of punitive damages available in a securities arbitration case?
In Kansas, there are limitations on the amount of punitive damages available in a securities arbitration case. Punitive damages are designed to punish the wrongdoer and are awarded in addition to other damages that may be awarded in the case. Under Kansas law, the amount of punitive damages awarded in a securities arbitration case is limited to three times the compensatory damages, or $500,000 (whichever is less). Compensatory damages refer to damages that are awarded to the investor to compensate them for their actual losses. It is important to note, however, that these limitations on punitive damages only apply to the damages awarded by the arbitrator. If the investor is successful in their case, they can still seek punitive damages from a court of law, which may have different limitations. In addition, Kansas law states that in any case involving securities arbitration, the court must review the amount of punitive damages awarded by the arbitrator and can reduce the amount if it finds that the award is excessive. Overall, while punitive damages are available in securities arbitration cases in Kansas, there are certain limitations in place to ensure that they are reasonable and appropriate.
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