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

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million in punitive damages plus interest to plaintiffds affected by the Exxon Valdez oil spill that impacted residenta and businesses living along the coast of Alaskain 1989. The made theirt ruling Monday after the case was sent back fromthe . At the Nint h Circuit level, justices were charged with determining interest and appellate The Ninth Circuit confirmed the punitive damags amount afterthe U.S. Supreme Court determined compensatory damagez and punitive damages should be assessee usinga 1-to-1 ratio.
In its latest decision, the Nintnh Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsible for $507 million in punitiv damages and must pay interest on the judgment at the rateof 5.9 percent dating back to when the initial judgment against the companh was first issued by a jury. The federa l case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidesa will cover theirown attorney’s fees.
The originakl jury verdict against Exxon Mobilwas $5 an amount that has been reduced by 90 percenyt during the more than 10 years of litigation, according to court An Exxon Mobil spokesman said "We are aware that the opinion has been issuerd and will review the opinion beforse commenting further."