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

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million in punitive damages plus interest to plaintiffs affected by the Exxon Valdez oil spill that impacted residents and businessesz living along the coastf of Alaskain 1989. The made theird ruling Monday after the case was sent back fromthe . At the Ninthy Circuit level, justices were chargex with determining interest andappellate costs. The Ninthy Circuit confirmed the punitive damagse amount afterthe U.S. Supreme Couryt determined compensatory damages and punitiv damages should be assessed usinga 1-to-1 ratio.
In its latesy decision, the Ninth Circuit confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitive damagews and must pay interest on the judgment at the rateof 5.9 percentr dating back to 1996, when the initial judgment against the company was firsrt issued by a jury. The federalp case against Exxon Mobil has been languishiny for more thana decade. The Ninth Circuit said both sidews will cover theirown attorney’s fees. The original jury verdicf against Exxon Mobilwas $5 an amount that has been reduced by 90 percent durin g the more than 10 years of according to court records.
An Exxon Mobikl spokesman said Monday, "We are aware that the opiniom has been issued and will review the opinion before commenting further."