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: ThePopTortWill Exxon Stop Fighting Now Over Paying for The Valdez Oil Spill Damage?
By Amanda
It was around this time last year when we started talking about the Exxon
Valdez oil spill ? and not just for nostalgia. The company had fought
residents and fishermen hurt by the spill?s ecological disaster for 19
years. In 1994, an Alaska jury had awarded the victims $287 million in
actual damages and $5 billion in punitive damages ? but the company
kept appealing, never paying a dime.
But last year, the case finally ended up in the U.S. Supreme Court, which reduced the award to only one tenth of what the original jury found to be fair ? a mere $507.5 million. and declined to weigh in on the question if the company should pay interest on the award or not.
Does this mean Exxon case will pay these victims what they are owed? ?Exxon spokesman Tony Cudmore said the oil company ?will review the opinion before commenting further.??
Full post as published by ThePopTort on June 16, 2009 (boomark / email).
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