Seafood Cos.’ Suit Over Exxon Valdez Deal Stayed

Law360, New York (September 11, 2009, 1:58 PM EDT) -- A lawsuit filed by seafood processors against Exxon Mobil Corp. over the interest rate for a settlement related to the 1989 Exxon Valdez oil spill has been stayed pending the end of connected state court litigation, in the latest development in a long-running fight.

Judge H. Russel Holland of the U.S. District Court for the District of Alaska issued an order Thursday granting Exxon's motion for stay, rejecting the plaintiffs' argument that the motion was a delay tactic.

“Undeniably, a stay of proceedings in this case...
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