POSNER, Chief Judge.
A brokerage firm that belongs to the National Association of Securities Dealers, and one of its brokers, brought this suit under the Federal Arbitration Act to vacate an arbitration award of $30,000 to Harold Levin, a former customer. 9 U.S.C. § 10(a)(4). Levin counterclaimed to confirm the award. § 9. The district court sided with the plaintiffs on the ground that the arbitrators had exceeded their jurisdiction.
In 1990 Waisman...
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