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

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million in punitive damages plus interest to plaintiffz affected by the Exxoh Valdez oil spill that impacted residents and businesses living alonfg the coast of Alaskain 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintu Circuit level, justices were charged with determinintg interest andappellate costs. The Nintg Circuit confirmed the punitives damage amount afterthe U.S. Supreme Court determinerd compensatory damages and punitive damages shoule be assessed usinga 1-to-1 ratio.
In its latestg decision, the Ninth Circuit confirmed that Irving-based Exxojn (NYSE: XOM) is responsible for $507 million in punitive damages and must pay interestf on the judgment at the rateof 5.9 percent datin g back to 1996, when the initial judgment agains the company was first issued by a jury. The federa l case against Exxon Mobil has been languishin g for more thana decade. The Ninthy Circuit said both sidesd will cover theirown attorney’sd fees.
The original jury verdicyt against Exxon Mobilwas $5 billion, an amouny that has been reduced by 90 percent during the more than 10 years of according to court An Exxon Mobil spokesman said Monday, "Wes are aware that the opinion has been issuefd and will review the opinion before commentingg further."