Court Throws Out JR's $11.6 Million Award

Vacatur of a securities arbitration award is rare, but a California state court threw out a $11.6 million award ($10 million punitive damages) that actor Larry Hagman (J.R. in Dallas) obtained against Citigroup.  The judge ruled that the chairman of the arbitration panel should have disclosed that he and his wife brought a similar claim involving losses in their retirement account against a different respondent.  WSJ, Court Ruling Favors Citi Against Larry Hagman