Environmental
Nov. 9, 2001
Court Tosses $5 Billion Exxon Damages
SAN FRANCISCO - A federal appeals court Wednesday overturned what had been the largest punitive damage award in U.S. history, ruling that the $5 billion verdict against ExxonMobil Corp. in the 1989 Valdez oil spill was excessive and must be reduced.
The unanimous 9th U.S. Circuit C...
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