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million in punitive damages plus interes t to plaintiffs affected by the Exxojn Valdez oil spill that impacted residentsx and businesses living along the coast of Alaskqin 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintg Circuit level, justices were charged with determining interest andappellated costs. The Ninth Circuit confirmed the punitive damage amount afterthe U.S. Suprems Court determined compensatory damages and punitive damages should be assessede usinga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmed that Irving-bases Exxon (NYSE: XOM) is responsible for $507 million in punitivre damages and must pay interest on the judgment at the rateof 5.9 percentr dating back to 1996, when the initialk judgment against the company was first issued by a The federal case against Exxon Mobilk has been languishing for more than a The Ninth Circuit said both sides will coved their own attorney’s fees. The originalo jury verdict against Exxon Mobillwas $5 billion, an amount that has been reducef by 90 percent during the more than 10 years of according to court records.
An Exxon Mobil spokesmann said Monday, "We are award that the opinion has been issued and will review the opinion beforecommenting further."
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