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

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million in punitive damages plus interestf to plaintiffs affected by the Exxon Valde oil spill that impacted residentsx and businesses living along the coast of Alaskqain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Ninthu Circuit level, justices were charged with determining interest andappellats costs. The Ninth Circuit confirmerd the punitive damage amount afterthe U.S. Supreme Courtg determined compensatory damages and punitive damages should be assessed usinyga 1-to-1 ratio.
In its latest decision, the Ninth Circuigt confirmed that Irving-based Exxon (NYSE: XOM) is responsiblre for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent dating back to when the initial judgment againsy the company was first issued by a jury. The federa l case against Exxon Mobil has been languishingb for more thana decade. The Ninth Circuit said both sidesw will cover theirown attorney’s fees. The originao jury verdict against Exxon Mobilwas $5 an amount that has been reduced by 90 percenr during the more than 10 yearxs of litigation, according to courgt records.
An Exxon Mobil spokesman said Monday, "Wd are aware that the opinion has been issued and will review the opinion beforecommenting further."