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HUNTER, KEITH INDUST. v. PIPER CAPITAL

No. C3-97-1796.

575 N.W.2d 850 (1998)

In the Matter of the Arbitration between HUNTER, KEITH INDUSTRIES, INC., Respondent, v. PIPER CAPITAL MANAGEMENT INCORPORATED, et al., Appellants.

Court of Appeals of Minnesota.

March 17, 1998.

Attorney(s) appearing for the Case

Lewis A. Remele, Jr., Christopher R. Morris, Jeffer Ali, Bassford, Lockhart, Truesdell & Briggs, P.A., Minneapolis, for respondent.

George F. McGunnigle, Lawrence J. Field, Catherine A. McEnroe, Leonard, Street & Deinard, Minneapolis, for appellants.

Considered and decided by LANSING, P.J., and CRIPPEN and KALITOWSKI, JJ.

OPINION

LANSING, Judge.

Piper Capital Management Incorporated and Piper Jaffray, Inc. (Piper), appeal from a judgment confirming an arbitration award of $1,000,000 in punitive damages. The punitive damages were awarded in a National Association of Securities Dealers (NASD) arbitration commenced by Hunter, Keith Industries, Inc. (Hunter, Keith). We reject Piper's argument that the punitive damages were awarded in manifest disregard of the law or in violation...

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