WOLLMAN, Circuit Judge.
Charles and Elizabeth Parsons sued First Investors Corporation (First Investors), claiming they were fraudulently induced to invest in a junk bond mutual fund managed by First Investors. The jury returned a verdict for the Parsons, awarding them compensatory and punitive damages. The district court subsequently remitted the punitive damages award and denied First Investors' motion for a new trial. First Investors appeals, and the Parsons cross...
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