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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=48276

Justice Cahn

A NATIONAL Association of Securities Dealers Inc. arbitration panel awarded respondent broker dealer $1.152 million in compensatory damages, attorney’s fees and interest on claims that petitioner former employee used respondent’s trade secrets in violation of a post-employment covenant and employment agreement. Petitioner sought the award’s vacatur or modification, as being in “manifest disregard of the law,” because compensatory damages were wrongly based on his new employer’s gross revenues. The court confirmed the award. Applying the Federal Arbitration Act, it found that petitioner’s measure of damages was not the only well-defined, explicit, and patently applicable method. While cautioning that “it is generally the better practice for arbitrators to explain how they arrived at an award,” the court noted that “courts will not look beyond the lump sum award in an attempt to analyze the reasoning processes of the arbitrator.”

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