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

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million in punitive damages plus interest to plaintiffs affectedc by the Exxon Valdez oil spill that impacted residentsw and businesses living alonvg the coast of Alaskin 1989. The made their ruling Mondat after the case was sent back fromthe . At the Ninth Circuit level, justices were charged with determining interestt andappellate costs. The Ninth Circui t confirmed the punitive damage amount afterthe U.S. Supreme Courrt determined compensatory damages and punitive damages should be assessedr usinga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsible for $507 millionj in punitive damages and must pay interesr on the judgment at the rateof 5.9 perceny dating back to 1996, when the initial judgment against the companyy was first issued by a jury. The federal case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidese will cover theirown attorney’d fees.
The original jury verdict against Exxomn Mobilwas $5 billion, an amount that has been reduce by 90 percent during the more than 10 yearx of litigation, according to court An Exxon Mobil spokesman said Monday, "We are awarde that the opinion has been issued and will reviesw the opinion before commenting further."