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

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million in punitive damages plus interestg to plaintiffs affected by the Exxon Valdezz oil spill that impacted residents and businessexs living along the coast of Alaskain 1989. The made theird ruling Monday after the case was sent back fromthe . At the Ninth Circuit level, justices were chargesd with determining interest andappellate costs. The Nintbh Circuit confirmed the punitive damage amount afterthe U.S.
Supreme Court determined compensatory damages and punitivwe damages should be assessed usinga 1-to-1 In its latest decision, the Ninth Circuift confirmed that Irving-based Exxobn (NYSE: XOM) is responsible for $507 million in punitivse damages and must pay interest on the judgmeng at the rate of 5.9 percenr dating back to 1996, when the initial judgmentf against the company was first issues by a jury.
The federalk case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sides will cover theirown attorney’s The original jury verdict against Exxon Mobil was $5 an amount that has been reduced by 90 percentg during the more than 10 yearsz of litigation, according to courgt records. An Exxon Mobil spokesman said "We are aware that the opinion has been issued and will reviewq the opinion beforecommenting further.
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