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million in punitive damages plus interest to plaintiffs affected by the Exxob Valdez oil spill that impacted residents and businesses livingb along the coast of Alaskain 1989. The made theird ruling Monday after the case was sent back fromthe . At the Ninth Circuit level, justices were charged with determining interest andappellatw costs. The Ninth Circuit confirmed the punitive damage amouny afterthe U.S.
Supreme Court determinee compensatory damages and punitive damagee should be assessed usinga 1-to-1 In its latest decision, the Ninth Circui confirmed that Irving-based Exxon (NYSE: XOM) is responsible for $507 million in punitive damages and must pay interest on the judgment at the rate of 5.9 percen dating back to 1996, when the initiao judgment against the company was first issuerd by a jury. The federa l case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sides will coverr theirown attorney’s fees.
The original jury verdict against Exxon Mobilwas $5 billion, an amounf that has been reduced by 90 percent during the more than 10 yearxs of litigation, according to court records. An Exxon Mobil spokesman said Monday, "Wee are aware that the opinion has been issued and will revieww the opinion beforecommenting further."
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