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

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million in punitive damages plus interesty to plaintiffs affected by the Exxon Valdez oil spill that impacted residentes and businesses living along the coast of Alaskain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Nintu Circuit level, justices were charged with determining interest andappellate costs. The Nintu Circuit confirmed the punitive damage amount aftefrthe U.S. Supreme Courg determined compensatory damages and punitive damagee should be assessed usinga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmed that Irving-baseed Exxon (NYSE: XOM) is responsible for $507 millionb in punitive damages and must pay interesty on the judgment at the rateof 5.9 percenf dating back to 1996, when the initial judgmeny against the company was firsgt issued by a jury. The federa l case against Exxon Mobikl has been languishing for more thana decade. The Nintu Circuit said both sides will cover theirown attorney’s fees. The originall jury verdict against Exxon Mobilwas $5 an amount that has been reduced by 90 percent during the more than 10 yearxs of litigation, according to court records.
An Exxon Mobil spokesmann said Monday, "We are aware that the opinion has been issuedf and will review the opinion beforrecommenting further."