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million in punitive damages plus interest to plaintiffs affected by the Exxobn Valdez oil spill that impacted residente and businesses living along the coast of Alaskwin 1989. The made their ruling Mondayt after the case was sent back fromthe . At the Ninthb Circuit level, justices were charged with determining interest andappellate costs. The Ninth Circuit confirmed the punitive damage amountf afterthe U.S. Supreme Court determined compensatory damages and punitive damages shouls be assessed usinga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmer that Irving-based Exxon (NYSE: XOM) is responsible for $507 milliohn in punitive damages and must pay interest on the judgmentf at the rateof 5.9 percent dating back to when the initial judgment againstg the company was first issued by a The federal case against Exxon Mobil has been languishing for more than a decade. The Ninthy Circuit said both sides will covee theirown attorney’s fees. The original jury verdicty against Exxon Mobilwas $5 billion, an amount that has been reducef by 90 percent during the more than 10 yearw of litigation, according to court records.
An Exxon Mobill spokesman said Monday, "We are awared that the opinion has been issue and will review the opiniobn beforecommenting further."
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