Exxon Mobil Corporation (NYSE:XOM) has confirmed a decision by the federal court in Anchorage that revised punitive damages awarded in the 1989 Exxon Valdez accident from $4 billion to $4.5 billion plus interest. “The Ninth Circuit Court of Appeals has twice vacated Judge Holland’s decisions in this matter. This is exactly why ExxonMobil argued before…
COMPANY: ExxonMobil confirms Valdez damages award at US$4.5 billion
Posted on February 9, 2004 by EnergyAsia