High Court May Limit Exxon Valdez Punitive Damages

Law360, New York (February 22, 2008, 12:00 AM EST) -- The U.S. Supreme Court pondered setting a ratio limit for punitive damage awards as it heard oral arguments Wednesday over a $2.5 billion award against ExxonMobil Corp. for damages caused by the 1989 Exxon Valdez tanker spill.

The court is considering whether maritime law or the Clean Water Act prompt dismissal of any punitive damages in the case, in which more than 32,000 fishermen and Alaska natives are seeking remedies over the environmental disaster.

If ExxonMobil is not found to be exempted from the punitive damages...
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