descrybe logo
You are viewing a free summary from Descrybe.ai. For citation and good law / bad law checking, legal issue analysis, and other advanced tools, explore our Legal Research Toolkit — not free, but close.

Don Miele Shirley Miele v. Prudential Bache Securities Roger A. Jones Doug Haas

Citations: 62 F.3d 1315; 1995 U.S. App. LEXIS 24459; 1995 WL 488550Docket: 92-2334

Court: Court of Appeals for the Eleventh Circuit; August 31, 1995; Federal Appellate Court

EnglishEspañolSimplified EnglishEspañol Fácil
In 1985, Dom and Shirlee Miele opened an investment account with Prudential-Bache Securities, which included a provision for arbitration of disputes. After incurring losses over four years, the Mieles sought arbitration due to Prudential's refusal to reimburse them. The American Arbitration Association (AAA) ruled in favor of the Mieles in 1991, awarding them punitive damages of $266,654.79.

When the Mieles sought to confirm this arbitration award in district court, Prudential issued two checks: one for 60% of the punitive damages, payable to the State of Florida General Revenue Fund under Florida Statute § 768.73 (1991), and the other for the remaining amount directly to the Mieles. The Mieles argued they were entitled to the full punitive damages since they believed § 768.73(2) did not apply to arbitration awards. The district court disagreed, leading the Mieles to appeal.

The Eleventh Circuit certified a question to the Florida Supreme Court regarding the applicability of § 768.73 to arbitration awards. The Florida Supreme Court answered in the negative, confirming that the statute does not apply to such awards. Consequently, the Eleventh Circuit reversed the district court's decision and remanded the case for further proceedings consistent with the Florida Supreme Court's ruling.

Additional points raised by the Mieles, including disputes about the amount awarded and the constitutionality of the statute's application to their case, were rendered moot by the Florida Supreme Court's decision. The case involved notable participation from Circuit Judge Cox, Senior Circuit Judge Johnson, and Senior District Judge Kehoe.