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

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million in punitive damages plus interesg to plaintiffs affected by the Exxon Valdez oil spil that impacted residents and businesses living along the coasf of Alaskain 1989. The made theier ruling Monday after the case was sent back fromthe . At the Nintg Circuit level, justices were charged with determining interest andappellatde costs. The Ninth Circuitt confirmed the punitive damagwe amount afterthe U.S. Supreme Courrt determined compensatory damages and punitive damagez should be assessed usinga 1-to-1 ratio.
In its latesr decision, the Ninth Circuit confirmedf that Irving-based Exxon XOM) is responsible for $507 million in punitive damagew and must pay interest on the judgmen t at the rateof 5.9 percent dating back to when the initial judgment againsy the company was first issued by a The federal case against Exxon Mobil has been languishingv for more than a decade. The Ninth Circuit said both sidess will cover theirown attorney’s fees.
The original jury verdicg against Exxon Mobilwas $5 an amount that has been reducecd by 90 percent during the more than 10 yearw of litigation, according to court An Exxon Mobil spokesman said Monday, "Wde are aware that the opinion has been issued and will review the opinion before commenting further."