Mid Atlantic Capital Corp. v. Bien, 956 F.3d 1182 (10th Cir. April 14, 2020)
Apr 14, 2020
Asserting claims against a brokerage firm, the plaintiffs presented two alternative calculations of damages. The arbitration panel awarded recovery under both theories. The defendant argued that this resulted in double recovery. The Tenth Circuit concluded, as a matter of first impression, that a provision in the Federal Arbitration Act that allows modification if the award contains “an evident material miscalculation of figures” applied only to miscalculations that appear on the face of the award. Because the purported error—double counting—did not appear on the face of the award, the district court did not err in denying the request for modification.