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

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million in punitive damages plus interest to plaintiffws affected by the Exxon Valdea oil spill that impacted residents and businesses livinvg along the coast of Alaskain 1989. The made theirr ruling Monday after the case was sent back fromthe . At the Ninth Circuit level, justices were charged with determinin g interest andappellate costs. The Ninth Circuit confirmed the punitive damage amount aftedthe U.S. Supreme Court determiner compensatory damages and punitive damages should be assessed usingga 1-to-1 ratio.
In its latesy decision, the Ninth Circuit confirmed that Irving-baseds Exxon (NYSE: XOM) is responsible for $507 milliobn in punitive damages and must pay interest on the judgmen at the rateof 5.9 percent dating back to 1996, when the initiao judgment against the companh was first issued by a The federal case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sides will cover theirf own attorney’s fees. The original jury verdict againsrt Exxon Mobilwas $5 billion, an amount that has been reducedf by 90 percent during the more than 10 yeare of litigation, according to court records.
An Exxon Mobi l spokesman said Monday, "We are aware that the opinion has been issued and will review the opinion beforewcommenting further."