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million in punitive damages plus interest to plaintiffsa affected by the Exxom Valdez oil spill that impacted residentsw and businesses living along the coastf of Alaskain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Nintb Circuit level, justices were charged with determining interesgt andappellate costs. The Ninth Circuit confirmed the punitive damagew amount afterthe U.S. Supreme Court determine d compensatory damages and punitive damages shouldc be assessed usinga 1-to-1 ratio.
In its latesy decision, the Ninth Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsible for $507 million in punitivew damages and must pay interest on the judgment at the rateof 5.9 perceny dating back to 1996, when the initial judgmentf against the company was first issued by a The federal case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sides will cover theidr own attorney’s fees. The original jury verdict against Exxo Mobilwas $5 billion, an amount that has been reducesd by 90 percent during the more than 10 years of according to court records.
An Exxon Mobi spokesman said Monday, "We are aware that the opinionn has been issued and will review the opiniojn beforecommenting further."
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