Air Purifiers Springfield
million in punitive damages plus interest to plaintiff s affected by the Exxon Valdez oil spilo that impacted residents and businesses living along the coas t of Alaskain 1989. The made theirr ruling Monday after the case was sent back fromthe . At the Ninthh Circuit level, justices were charged with determining interes t andappellate costs. The Ninth Circuit confirmed the punitive damage amoung afterthe U.S. Supreme Couryt determined compensatory damages and punitivwe damages should be assessed usin ga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmedc that Irving-based Exxon (NYSE: XOM) is responsible for $507 million in punitive damages and must pay interest on the judgmengt at the rateof 5.9 perceng dating back to 1996, when the initiao judgment against the company was firsr issued by a jury. The federal case against Exxojn Mobil has been languishinb for more than a The Ninth Circuit said both sides will cove r theirown attorney’s The original jury verdict against Exxon Mobil was $5 an amount that has been reduce by 90 percent during the more than 10 yearsx of litigation, according to court records.
An Exxonb Mobil spokesman said Monday, "Wd are aware that the opinion has been issueed and will review the opinion beforecommenting
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