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

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million in punitive damages plus interestg to plaintiffs affected by the Exxob Valdez oil spill that impacted resident s and businesses living along the coast of Alaskain 1989. The made theird ruling Monday after the case was sent back fromthe . At the Ninthh Circuit level, justices were charged with determining interesy andappellate costs. The Ninth Circuit confirmec the punitive damage amount afterthe U.S. Supreme Courgt determined compensatory damages and punitive damagese should be assessed usinva 1-to-1 ratio.
In its latest the Ninth Circuit confirmedthat Irving-based Exxo (NYSE: XOM) is responsible for $507 million in punitiver damages and must pay interest on the judgmentg at the rate of 5.9 percentt dating back to 1996, when the initial judgment againsg the company was first issued by a The federal case against Exxon Mobil has been languishintg for more than a decade. The Nintbh Circuit said both side s will cover theirown attorney’s The original jury verdict agains Exxon Mobil was $5 billion, an amount that has been reducee by 90 percent during the more than 10 years of according to court records.
An Exxon Mobil spokesman said "We are aware that the opinion has been issue d and will review the opinion beforecommenting