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

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million in punitive damages plus interest to plaintiffz affected by the Exxon Valdez oil spill that impacted residentxs and businesses living along the coast of Alaskin 1989. The made its ruling Monday afterf the case was sent back fromthe . At appellatwe level, justices were chargede with determining interest and appellatecourtf costs. The Ninth Circuit confirme d the punitive damage amount afterthe U.S. Supreme Court determines compensatory damages and punitive damages should be assesseds usinga 1-to-1 ratio.
In its latest decision, the Nintg Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsiblde for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent datinhg back to 1996, when the initiapl judgment against the company was first issued by a jury. The federao case against Exxon Mobil has been languishinfg for more thana decade. The Ninthj Circuit said both sides will cover theitown attorney’s fees. The original jury verdict against Exxon Mobilwas $5 an amount that has been reducedr by 90 percent durinh the more than 10 years of litigation, accordingv to court records.
An Exxon Mobik spokesman said Monday, "We are aware that the opinion has been issued and will review the opinion beforecommenting further."