In this appeal from the dismissal of a counterclaim, the appellants ask us to either set aside or reform a settlement agreement between two sophisticated parties because the circumstances of the negotiation carry a whiff of unseemliness, and there has been a suggestion of fraud. Considering all of the facts and circumstances surrounding the negotiation, we conclude that the settlement agreement is binding under Puerto Rico law, and we detect no fraud or absence of disclosure that justify unraveling or disturbing the agreement.
For its part, the victor below — Smith Barney — sought attorneys’ fees under the Puerto Rico Rules of Civil Procedure and requested, pursuant to federal securities laws, findings regarding the parties’ compliance with Rule 11. Concluding that it would be inconsistent with Puerto Rico law to assess fees for pressing a non-frivolous claim, and also that where the record is clear we need not remand for Rule 11 findings, we deny Smith Barney’s cross appeal.
I. Facts
Sometime in early 2002, 1 Luis Fernandez Ramirez, an attorney, opened numerous brokerage accounts on behalf of himself and several closely-held corporations (referred to herein collectively as “Fernandez, et al.”) with CitiBank Global Markets d/b/a Smith Barney. 2 Soon thereafter, Fernandez, et al. became dissatisfied with the brokerage commissions levied on their accounts, and as a result, threatened to move their considerable portfolios elsewhere. Not wanting to lose this business, in June 2003 Smith Barney agreed to a lower commission rate and to credit the difference between.the higher commission rate charged to those accounts and seven-eighths of that commission rate. Moreover, Smith Barney proposed an even lower commission rate of ten cents per share for all future transactions. An even lower rate of three cents per share was proffered (and agreed upon) two months later, in August 2003.
*21 It turned out that Smith Barney failed to honor any of these commitments, and actually charged the accounts brokerage commission charges in excess of its normal, published rates. In late 2005 or early 2006, senior managers in Smith Barney’s Puerto Rico Office informed Fernandez of certain “irregularities” in the accounts that, according to Smith Barney, resulted in approximately $950,000 in commission overcharges across all of the accounts. Smith Barney offered to pay this amount in order to settle Fernandez’s claims of commission overcharges and release it from further liability. Not content to rely on the verbal representations of senior officers at Smith Barney Puerto Rico, Fernandez repeatedly requested the calculations supporting this amount. Although Smith Barney initially resisted providing these calculations, it eventually relented.
On the morning of Friday, February 17, 2006, Smith Barney sent Fernandez the calculations supporting its proposed settlement amount. These calculations involved all eight accounts at issue and were voluminous, totaling forty-four legal-sized pages. Later that day, after Fernandez received the calculations, a representative of Smith Barney arrived with the settlement documents and a notary public in the hope of consummating a settlement with respect to the brokerage commissions.
Fernandez, who only hours earlier had received the working papers from which the settlement figures were derived, requested several changes to the settlement agreement, and then without reviewing the calculations he had so ardently requested, signed the settlement agreement. 3 Among other provisions, Fernandez agreed
[to] release[ ], forever discharge[ ] ... and hold Smith Barney harmless ... from any and all actions, causes of action, complaints, charges, claims, liabilities, demands, damages, and costs of any kind ... whether matured or unmatured, fixed or contingent, known or unknown ... against Smith Barney from the beginning of the world to the date of this agreement by reason, including but not limited to [the securities accounts of Fernandez and the appellants].
In addition to this release, Fernandez further agreed that he “determined that this settlement is fair and reasonable under all the circumstances,” that “this determination has been based solely upon his independent judgment,” and that in reaching this conclusion he “had adequate opportunity to discuss and assess the merits of all his claims or potential claims with an attorney of his choice.” In addition, Fernandez also agreed that he “cooperated in the drafting and preparation” of the settlement agreement.
A Smith Barney representative executed the agreement on the same day. Over the ensuing weekend, Fernandez reviewed the calculations Smith Barney had provided and realized that the settlement was not calculated on the basis of the lower commission rates of ten cents and three cents per share that were agreed upon in mid-2003. As a result of these and other alleged defects, on Tuesday, February 21 (Monday was a holiday), Fernandez sought *22 to hold the settlement “in abeyance,” in the hope of securing richer terms or rescinding the whole agreement.
Smith Barney, however, took the position that the settlement agreement was binding, and was unwilling to revisit the amount of compensation paid to Fernandez. 4 On April 12, 2006, Smith Barney tendered checks to Fernandez totaling $947,128.71. Approximately two weeks later, Smith Barney sent Fernandez an executed copy of the settlement agreement that Fernandez had previously requested.
On June 27, 2006, Smith Barney filed a complaint in federal district court seeking, inter alia, a declaration that the settlement agreement was valid, an injunction prohibiting Fernandez, et al. from seeking arbitration, an order for specific performance of the agreement, and damages of $200,000 for appellants’ alleged breach of the settlement agreement.
For his part, Fernandez (and his companies) filed a counterclaim asserting various theories under federal and Puerto Rico law. Fernandez later sought leave to amend the counterclaim, which was granted in April, 2007. The amended counterclaim alleged mail and wire fraud, as well as illegal appropriation in violation of the civil provisions of RICO, breach of fiduciary duty and breach of contract in violation of Puerto Rico law, breach of Puerto Rico’s Act Against Organized Crime and Money Laundering, P.R. Laws Ann. tit 25, §§ 971 et seq., and for the first time, a claim of securities fraud, alleging violations of section 10b of the Securities Exchange Act, 15 U.S.C. § 77j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5.
In October, 2007, the district court granted Smith Barney’s motion to dismiss the counterclaim. The district court grounded its decision primarily on the basis that the settlement agreement was valid and binding on the parties, and in the process, rejected the counterclaim brought by Fernandez et al. challenging the validity of the settlement agreement. Having found that the settlement agreement was valid and binding, see P.R. Laws Ann. tit. 31, § 4828, the district court concluded that with respect to these parties, the agreement had the same effect as res judicata, and therefore Fernandez, et al. could not pursue their counterclaim. See P.R. Laws Ann. tit. 31, § 4827. As a result, the district court did not consider Smith Barney’s alternative defenses, including inter alia, defenses based on limitations, failure to plead scienter properly, and failure to meet the heightened pleading requirements of Rule 9 of the Federal Rules of Civil Procedure.
After the district court dismissed the counterclaim, Smith Barney sought attorneys’ fees on an equitable theory, which the district court apparently interpreted to be a request for fees pursuant to the Puerto Rico Rules of Civil Procedure, based on Fernandez’s alleged obstinate and vexatious challenges to the validity of the settlement agreement and because his pursuit of the counterclaim obstinately and frivolously extended the proceedings.
5
See
*23
P.R. R. Civ. P. 44.1(d);
see also P.R. Tel. Co., Inc. v. U.S. Phone Mfg. Corp.,
The district court denied Smith Barney’s motion for attorneys’ fees and entered final judgment. The parties’ appeal and cross-appeal timely followed.
II. Fernandez’s Appeal
We review the district court’s decision to grant the motion to dismiss de novo,
Gray,
We begin with a brief reconnaissance of applicable Puerto Rico substantive law, which we apply in this diversity dispute.
6
See Erie R.R. Co. v. Tompkins,
With this background, we examine Fernandez’s contentions. Though packaged in several legal theories, the primary thrust of Fernandez’s complaint is that Smith Barney did not clearly and unambiguously clarify that the approximately $950,000 settlement was not calculated on the basis of the lower commission rates of ten and three cents per share on which he and Smith Barney agreed in mid-2003. According to Fernandez, this lack of clarity was further compounded by the circum *24 stances surrounding his receipt of the working papers and the execution of the settlement agreement. In particular, Fernandez objects that Smith Barney — only hours after providing the working papers — sent to his office not only a draft of the settlement agreement, but also an attorney and a notary public with the expectation of executing the settlement that very day.
Under these circumstances, Fernandez contends that Smith Barney’s failure to articulate with particularity the scope of the settlement has the effect of invalidating the settlement under Puerto Rico law, or requires a reformation of the settlement such that it excludes his contract-based commission claims. Alternatively, Fernandez argues that the compromise is void because it was procured as the result of “dolo,” a form of contractual deceit that may arise from concealment.
See Prado Alvarez v. R.J. Reynolds Tobacco Co., Inc.,
A. Validity of the Contract
Under Puerto Rico law, a contract has three elements: consent, a definitive (and legal) object, and consideration.
See
P.R. Laws Ann. tit. 31, § 3391;
Quinones López v. Manzano Pozas,
Moreover, the Puerto Rico Supreme Court has noted the important social interest in holding parties to their contracts, and therefore the “validity of [a] contract and of the consent is presumed,” and in order for an error to annul consent, such error must be “excusable.”
Capo Caballero v. Ramos,
From this authority Smith Barney argues that if there was any error in Fernandez’s consent, it was not excusable and therefore cannot be used to invalidate Fernandez’s consent and rescind the settlement, nor can the error support reformation of the settlement to exclude claims based on the contractual ten and three cent per share commission rates. The essence of Smith Barney’s argument is that, as Fernandez concedes, he was in possession of the calculations used to derive the settlement amount before he assented to the settlement, and consequently, Fernandez was capable of determining precisely what commission rates were used to calculate the settlement. Thus, Fernandez’s failure to discover that the contractual rates of three and ten cents per share were not used to calculate the settlement was not an excusable error that would serve to invalidate Fernandez’s consent.
Fernandez does not directly grapple with this authority, and instead relies on another case,
Producciones Tommy Muniz, Inc. v. C.O.P.A.N.,
We disagree. Unlike the construction of a television center, which can involve many permutations of equipment quality and quantity, the settlement agreement did not fail for indefiniteness or contain the same level of ambiguity in a key term. The total amount of the settlement was precisely delineated, as were the calculations supporting the settlement. As the court made clear in C.O.P.A.N., it is not necessary for an offer to specify every detail, if such details can be ascertained from other sources, and the parties were clear about them. In the present case, the calculations, whose accuracy is not challenged, were supplied before the settlement was agreed upon, and they served the purpose of ensuring that the offer was *26 definite. Moreover, in view of the Puerto Rico Supreme Court’s insistence that errors vitiating consent must be excusable, it would be unfair and inappropriate to permit Fernandez to withdraw his consent from this contract, because all of the information necessary to ferret out any erroneous conception or misimpression under which he was operating with respect to the scope of the settlement was already in his possession.
B. Compromise
Although the settlement agreement was a valid contract between the parties, there exists a further question whether it was a compromise under Puerto Rico law. The Supreme Court of Puerto Rico has identified three elements of a compromise: (i) an uncertain legal relationship, or “conflicting intentions born out of a legally dubious question”; (ii) an intent to eliminate the uncertainty, that is, the parties must intend to substitute “the uncertain relationship for one that is for them certain and uncontrovertable”; and (iii) the parties must make reciprocal concessions.
Citibank, N.A. v. Dependable Ins. Co.,
Fernandez does not contest this well-settled proposition. Rather, he asserts that the civil law principle of narrowly construing compromises and waivers of rights precludes the conclusion that, despite its plain terms, the settlement agreement compromised all commission-related disputes between the parties. Thus, he argues that the settlement compromised only the dispute over commission charges in excess of Smith Barney’s standard charges, 9 leaving open any dispute over the difference between Smith Barney’s actual charges and the lower commission rates that Smith Barney promised Fernandez.
This contention is misplaced. We are aware of nothing in Puerto Rico law that hinders the most natural reading of the settlement agreement as settling
all
commission-related disputes between the parties as of the date of the agreement. As we read the authority Fernandez cites, it is in pitch-perfect harmony with our conclusion on this score. It is true that the civil law limits the scope of any compromise to “objects specifically determined therein or which from a necessary inference from its words must be considered as included therein,” P.R. Laws Ann. tit. 31, § 4826;
see also Sucesion De Roman Febres v. Shelga Corp.,
Applying Puerto Rico’s general rules of contract construction, we conclude, while keeping in mind the policy of construing renunciations of rights narrowly, that the best reading of the settlement agreement is that it settles all of the parties’ commission-related disputes. The Puerto Rico Supreme Court has made clear that contracts are “to be construed in good faith,” and that contracts should be construed assuming that they were “drawn faithfully and correctly, that is in the understanding that when they were drawn[,] the parties wished to express themselves as normally honest people do, not seeking circumlocutions, deliberate obfuscations or obscurity....”
Citibank,
Fernandez nevertheless argues that the case sub judice more closely resembles another case, Roman Febres, in which the Puerto Rico Supreme Court made clear that a settlement with respect to one case would not be made applicable to other cases that were pending between the same parties, despite potentially broad language in the agreement. In that case, Romn Febres agreed to settle a dispute with Hampton Development Corporation involving the sale of property for development purposes. The settlement agreement included a term by which Romn Febres agreed to
fully and completely release Hampton [Development Corporation] and its affiliates from any claims or causes of action that could have accrued or may accrue in the future in behalf of the former and against Hampton and its affiliates as a result of relations existing between the parties mentioned up to this day.
Roman Febres,
Fernandez argues that the dispute regarding his contractually-based fee claims are like the unrelated suits that the court found in Roman Febres were not included in the parties’ broadly worded settlement agreement. In support of his contention, Fernandez argues that, at the time Smith Barney drafted the settlement agreement, it was not aware of the contractual commission fees of ten and three cents per share that it had (allegedly) agreed to in mid-2003. Further, Fernandez argues that the settlement agreement makes clear that by the settlement agreement’s plain terms, the approximately $950,000 provided for in the agreement only “reflects the variance between standard commissions and the actual commissions charged.”
Recognizing that this case does not fit comfortably within the paradigm of either Citibank or Roman Febres, we conclude that Smith Barney’s proposed reading of the settlement agreement is the better one. Smith Barney argues that the parties wished to settle at a minimum all of their commission-related disputes, and that the settlement agreement should be read to effectuate its purpose of “resolv[ing] all pending claims and differences [between Smith Barney and Fernandez].”
It is true that the release was not arrived at with the lengthy drafting history or the specific terms described in
Citibank,
21 P.R. Offic. Trans, at 502-03, (describing settlement and its terms with respect to several causes of action);
see also id.
at 506-07 (stating that Citibank negotiated settlement of ongoing controversy and that Citibank’s counsel signed settlement after review to resolve “all doubts surrounding the items and sums involved”). Nevertheless, Smith Barney furnished Fernandez with all calculations necessary to determine an acceptable settlement of the commission-related disputes, and after an opportunity to review these calculations and the agreement itself, Fernandez agreed to the proposed settlement. And unlike
Roman Febres,
the claim that Fernandez wishes to exclude from the settlement arises from the same common nucleus of operative fact: Smith Barney’s levying of excessive commissions charges, which were the impetus for the compromise at issue. Accordingly, we see no reason to refrain from enforcing the plain, if broad, terms of the agreement. This case just does not encompass the same level of ambiguity present in
Roman Febres,
and the compromise should be enforced.
10
Accord Cabán Hernandez,
*29 C. Dolus/Dolo
Notwithstanding our conclusion that the compromise between Fernandez and Smith Barney was valid and reaches all commission-related disputes, Fernandez argues that the presence of contractual deceit (dolus or dolo) nevertheless requires invalidation of the contract. Dolus or dolo is a form of contractual deceit that can serve to invalidate consent to an otherwise valid contract or compromise.
See
P.R. Laws Ann. tit. 31, § 4828 (providing that a compromise in which “error, deceit, violence or forgery of documents is involved, shall be subject to section 3404 of this title”). In turn, section 3404 provides that “consent given by error, under violence, by intimidation or deceit shall be void.” P.R. Laws Ann. tit. 31, § 3404. Nevertheless, the Puerto Rico Supreme Court has made clear that good faith on the part of contracting parties is “always presumed,” and one seeking to rely on dolo to invalidate a contract must rebut the presumption of good faith with evidence of intentional fault or bad faith.
Citibank,
21 P.R. Offic. Trans, at 512
(citing Canales v. Pan Am.,
Recognizing this possibility, Fernandez maintains that the Puerto Rico Supreme Court has been expanding the law of dolo, and that it is increasingly viewing failures to speak during contract negotiations with a jaundiced eye, even when the party seeking to avoid a contract is sophisticated. In support of this proposition, Fernandez cites
Ortiz Burnet v. El Mundo Broad. Corp.,
in which an equally divided Puerto Rico Supreme Court upheld a lower court’s decision permitting a trial on the question of whether a party to lease negotiations had a duty to disclose to his commercially sophisticated counterparty a preexisting agreement to sub-lease his space to third parties at a (possibly substantial) profit. 2006 T.S.P.R. 154,
Having determined that the counterclaim does not adequately raise a claim that the settlement was infected with dolo, *30 we need not consider whether Article 1055 of the Puerto Rico Civil Code requires that the settlement agreement be set aside. Similarly, because we conclude that the district court correctly determined that the settlement agreement was a valid compromise reaching all commission-related claims between the parties we need not reach the question of whether the settlement agreement was a novation.
Finally, we turn to Fernandez’s argument based on agency law (mandato) principles. Fernandez argues that under general principles of agency law, Smith Barney was required to provide an accounting of its commission overcharges in order for any release to be valid. He further argues that the accounting of overcharges that Smith Barney prepared for his review was insufficient to satisfy its obligations under agency principles and their attendant fiduciary duties. Assuming arguendo that Smith Barney was required to render an accounting, 11 the detailed forty-plus page analysis of the overcharges satisfied Smith Barney’s obligations on that score. Smith Barney’s accounting detailed all transactions, commissions charged, and the amount of commission that Smith Barney believed should have been charged. We discern nothing in Puerto Rico agency law requiring anything more; if Fernandez believed he should have been charged a different commission, it was incumbent on him to engage in further negotiations.
We have reviewed the remainder of Fernandez’s contentions and find them without merit, and therefore affirm the district court’s dismissal of Fernandez’s counterclaim on the basis of release.
III. Smith Barney’s Cross-Appeal
In its cross-appeal, Smith Barney seeks attorneys’ fees under the Puerto Rico Rules of Civil Procedure, as well as a remand to the district court for specific findings regarding compliance with Rule 11 of the Federal Rules of Civil Procedure, as required by the PSLRA, 15 U.S.C. § 78u-4(c).
A. Attorneys’ Fees Under Puerto Rico Law
Puerto Rico law governs the state law claim for attorneys’ fees in this diversity action.
See Mass. Eye & Ear Infirmary v. QLT Phototherapeutics, Inc.,
Reviewing Smith Barney’s claims of obstinance and frivolousness, the district court found none.
12
This finding is due
*31
significant deference.
Mass. Eye & Ear Infirmary, 552
F.3d at 74
(citing French v. Corporate Receivables, Inc.,
B. Findings Under the PSLRA
The final question we must resolve is one of first impression in this circuit: whether the district court is re-quired to make findings regarding compliance with Rule 11(b) of the Federal Rules of Civil Procedure, in a case in which a claim was made under the securities laws but where all claims were dismissed on state law grounds. The statute requiring such findings does not appear to brook any exceptions,
see
15 U.S.C. § 78u-4(c)(l) (requiring such findings as to
any
complaint, responsive pleading or, dispositive motion in
any
“private action” raising a claim under the securities laws), and at least one other circuit has reached that conclusion.
See Morris v. Wachovia Sec., Inc.,
Whether or not a Rule 11(b) inquiry must be made into Fernandez’s counterclaim, we needn’t remand this case to the
*32
district court for that purpose. As noted, the PSLRA requires courts, upon final adjudication of an action, to make findings regarding parties’ compliance with Rule 11(b) in private securities matters, and although it does not alter the standards used to judge compliance with Rule 11,
see Dellastatious v. Williams,
Rule 11(b) proscribes not only written arguments made with “any improper purpose,” but also advancing “frivolous” arguments, as well as the assertion of factual allegations without “evidentiary support” or the “likely” prospect of such support. Fed.R.Civ.P. 11(b);
Young v. City of Providence ex rel. Napolitano,
With these standards in mind, we conclude that no purpose would be served by remanding this case to the district court for Rule 11 findings. Although some courts have remanded cases in which the district court failed to make Rule 11 findings,
see Rombach v. Chang,
IV. Conclusion
For the reasons stated above, the district court’s dismissal of Fernandez’s counterclaim is affirmed, and the district court’s decision to deny attorneys’ fees under the Puerto Rico Rules of Civil Procedure is also affirmed. In addition, we decline to remand this case for further proceedings to determine whether any *33 Rule 11 violation occurred in this case because we are satisfied that no such transgression has occurred. Each side shall bear its own costs.
It is so ordered.
Notes
. Because the district court dismissed the appellants’ counterclaim under Rule 12(b)(6), our review is de novo and we view the well-pleaded facts in the light most favorable to the non-moving party, drawing all reasonable inferences in its favor.
Gray v. Evercore Restructuring L.L.C.,
. Appellants in this case are Luis Rodriguez Santana and Eli Diaz Rodriguez, the executors of Fernandez’s estate. Closely held corporations owned or managed by Fernandez, viz., Alfer Realty & Development Corp., Central Plaza Corp., Commonwealth Promoters, Inc., and OGIMA Investments Corp., are also appellants in this action.
. Fernandez sought and received a representation that stated "Smith Barney represents that the sum accurately reflects the variance between standard commissions and the actual commissions charged to releasor." This representation was added to the first paragraph of the release. We are free to consider the settlement agreement and the other documents referenced in the counter claim.
See Coyne v. Cronin,
. During this time the parties exchanged several letters, and according to the complaint, these letters demonstrate that Smith Barney management was not aware of the advantageous commission rates of ten cents and three cents per share that its predecessors had promised Fernandez. Fernandez believes that this lack of awareness demonstrates either a mutual mistake or consent to settle only claims that Smith Barney charged commission rates in excess of its standard commission rates, leaving for another day the settlement of the dispute regarding the difference between standard commission rates and those promised to Fernandez in mid-2003.
. On appeal, Smith Barney has not challenged the district court's decision to treat its request for attorneys’ fees as a request under *23 Rule 44 of the Puerto Rico Rules of Civil Procedure.
. When a release involves a party’s rights under federal law, we employ a totality of the circumstances approach in which we evaluate the knowing and voluntary character of the asserted release.
See Cabán Hernández v. Philip Morris USA, Inc.,
. The official translations of many Puerto Rico cases cited herein do not contain internal page numbers. Accordingly, we cannot include pin-point citation references for those cases.
See Otero-Burgos v. Inter Am. Univ.,
. Citing to prior decisions from the Spanish Supreme Court, which it treated as persuasive authority, the Puerto Rico Supreme Court also noted that reliance on error to avoid consent is "much less admissible 'whenever those who contract
are experts or connoisseurs of the respective business Capo Caballero,
. We need not dwell on Fernandez's related claim that the settlement agreement lists only him as a "releasor,” and consequently, the release should not apply to the corporate appellants. Although it is true that Fernandez is the only "releasor” named in the agreement, the account numbers of the corporate appellants are specifically included in the settlement agreement. Reading those accounts out of the settlement agreement would not be a tenable interpretation of the agreement, under any principle of construction.
. Fernandez presses another related reason for finding that the settlement agreement should not reach his contractual commission claims: the consideration of roughly $950,000 was so lacking as to provide another interpretive thumb on the scale in favor of his construction of the settlement agreement. See Roman Febres, 11 P.R. Offic. Trans, at n. 6 (noting that commentators suggest "in cases of onerous contracts, doubts should be decided in favor of the greater reciprocity of interests”). The Puerto Rico Supreme Court has made clear that reciprocal concessions involved in a compromise do not have to be equivalent. Citibank, 21 P.R. Offic. Trans, at 507. Here, Smith Barney abandoned several potential defenses to liability, including ratification and limitations-based defenses, and agreed to pay a significant sum to settle the matter. Although Fernandez may have been entitled to more, perhaps even several hundred percent more had he chosen to litigate and then secured a favorable verdict, given the implausibility of his reading of the settlement agreement, the substantial consideration principle, if it is even applicable, does not alter our reading of the compromise.
. Since the agency relationship was predicated on the purchase and sale of securities, Smith Barney argues that the Uniform Securities Act, and not the general agency principles of the Puerto Rico Civil Code, governs this relationship. In view of our conclusion regarding the disclosure, however, we need not reach this issue.
. In its filing requesting fees in the district court, Smith Barney argued that Fernandez's
*31
failure to accept the terms of a settlement that he felt was invalid and contrary to Puerto Rico law was vexatious, as was Fernandez’s attempt to obtain an adjudication of his counterclaim, in which he raised these challenges. Smith Barney adds that Fernandez’s motion for limited discovery, including a request to perpetuate testimony in view of his ailing health — motions that the district court largely granted — were also vexatious and/or obstinate. In short, Smith Barney argues that Fernandez's challenge to the settlement agreement, rather than his almost certainly overreaching counterclaim, is the source of the vexatiousness. Crediting this argument would have the effect of penalizing Fernandez for losing a case that was not obviously frivolous, and applying Puerto Rico law, we have long declined to do so.
E.g., Dopp v. Pritzker,
. In view of the complexity of Puerto Rico law with respect to compromises, and the apparently evolving nature of dolo, from our own review of the record we would be hesitant to conclude that appellants’ actions in prosecuting this suit, even in view of their lack of success, were obstinate or frivolous enough to warrant the award of fees. See supra note 13.
. Another circuit has said in evaluating writings for compliance with Rule 11: in order to violate Rule 11, a legal argument must " 'have absolutely no chance of success under the existing precedent' to contravene the Rule.”
Morris,