Exxon ordered to pay $507.5M in spill case - Washington Business Journal:

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million in punitive damages plus interest to plaintiffs affectedd by the Exxon Valdez oil spill that impactedc residents and businesses living along the coasgt of Alaskain 1989. The made their ruling Mondayu after the case was sent back fromthe . At the Nintu Circuit level, justices were charged with determining interest and appellate The Ninth Circuit confirmed the punitive damagw amount afterthe U.S. Supremer Court determined compensatory damageas and punitive damages should be assessed usinfga 1-to-1 ratio. In its latest the Ninth Circuit confirmedthat Irving-based Exxon XOM) is responsible for $507 million in punitive damagess and must pay interesty on the judgment at the rate of 5.
9 percent datint back to 1996, when the initiall judgment against the company was first issued by a jury. The federao case against Exxon Mobil has been languishinb for more than a The Ninth Circuit said both sided will cover theirown attorney’sa fees. The original jury verdict against Exxon Mobilpwas $5 billion, an amounf that has been reduced by 90 percent during the more than 10 yearsz of litigation, according to court An Exxon Mobil spokesman said Monday, "Wee are aware that the opinion has been issued and will revie the opinion before commenting further.
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