Exxon Owes $508M, Interest For Oil Spill: 9th Circ.

Law360, New York (June 15, 2009, 12:00 AM EDT) -- A federal appeals court has ordered Exxon Mobil Corp. to pay $507.5 million in punitive damages, plus interest accruing since 1996, to Alaska natives, fishermen and other plaintiffs who were harmed by the Exxon Valdez oil spill in 1989.

In a split decision, the U.S. Court of Appeals for the Ninth Circuit on Monday said the Irving, Texas-based company was on the hook for the substantially reduced damages award that the U.S. Supreme Court set last year and for interest payments at 5.9 percent that have...
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