U.S. Supreme Court
Jun. 27, 2008
High Court Slashes Exxon Award
Saving ExxonMobil Corp. $2 billion, the U.S. Supreme Court Wednesday slashed the $2.5 billion punitive damages award for the famous 1989 Valdez oil spill to $500 million, a significant victory for the business community that could prove influential in limiting future punitive awards.
Daily Journal Staff Writer
This article appears on Page 1
WASHINGTON - Saving ExxonMobil Corp. $2 billion, the U.S. Supreme Court Wednesday slashed the $2.5 billion punitive damages award for the famous 1989 Valdez oil spill to $500 million, a significant victory for the business community that could prove influential in limiting future punitive awards.
An...
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