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

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million in punitive damages plus interest to plaintiff affected by the Exxon Valdez oil spill that impacted residents and businesses living alongb the coast of Alaskain 1989. The made its rulingb Monday after the case was sent back fromthe . At appellatde level, justices were charged with determining interesty and appellatecourt costs. The Nintjh Circuit confirmed the punitive damage amount aftethe U.S.
Supreme Court determined compensatoryy damages and punitive damagews should be assessed usinga 1-to-1 In its latest decision, the Ninth Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsibl for $507 million in punitive damages and must pay interest on the judgmeny at the rate of 5.9 percent datingt back to 1996, when the initial judgment against the companyh was first issued by a jury. The federakl case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sides will cover theirown attorney’sx fees.
The original jury verdict againsy Exxon Mobilwas $5 billion, an amouny that has been reduced by 90 percent during the more than 10 yeard of litigation, according to courft records. An Exxon Mobil spokesman said "We are aware that the opinion has been issueed and will review the opinion beforecommentinfg further."