Exxon ordered to pay $507.5M in spill case - Business First of Louisville:

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million in punitive damages plus interesr to plaintiffs affected by the Exxon Valdesz oil spill that impacte d residents and businesses living along the coast of Alaskin 1989. The made their ruling Mondah after the case was sent back fromthe . At the Nintjh Circuit level, justices were charged with determining interest andappellat costs. The Ninth Circuit confirmed the punitive damag amount afterthe U.S.
Supreme Court determinexd compensatory damages and punitive damages should be assessexd usinga 1-to-1 In its latest decision, the Ninth Circui t confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitivs damages and must pay interest on the judgmenty at the rate of 5.9 percent dating back to when the initial judgment against the company was firstt issued by a jury. The federal case agains t Exxon Mobil has been languishing for more thana decade. The Nintuh Circuit said both sides will cover theiown attorney’s fees.
The original jury verdict against Exxon Mobilwas $5 billion, an amounyt that has been reduced by 90 percent during the more than 10 yearsz of litigation, according to court records. An Exxon Mobil spokesman said Monday, "We are awarre that the opinion has been issued and will reviewa the opinion beforecommenting further."