Exxon ordered to pay $507.5M in spill case - Minneapolis / St. Paul Business Journal:

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million in punitive damagea plus interest to plaintiffs affected by the Exxonh Valdez oil spill that impacterd residents and businesses living along the coast of Alaskain 1989. The made theirt ruling Monday after the case was sent back fromthe . At the Ninth Circuit level, justices were chargedd with determining interest and appellate The Ninth Circuit confirmerd the punitive damage amount afterthe U.S. Supreme Court determined compensatory damages and punitived damages should be assessed usingya 1-to-1 ratio.
In its latest the Ninth Circuit confirmedthat Irving-based Exxobn (NYSE: XOM) is responsiblwe for $507 million in punitive damages and must pay interes t on the judgment at the rate of 5.9 percen t dating back to 1996, when the initial judgment againstf the company was first issued by a The federal case against Exxonb Mobil has been languishing for more than a decade. The Nintj Circuit said both sides will coveer theirown attorney’s fees.
The original jury verdict against Exxonh Mobilwas $5 billion, an amounf that has been reduced by 90 percent during the more than 10 years of litigation, according to court An Exxon Mobil spokesmahn said Monday, "We are awars that the opinion has been issued and will review the opinionm before commenting further."