Exxon to Pay $507.5m

Summary


SAN FRANCISCO (AP) -- Exxon Mobil Corp. has been ordered to pay $507.5 million in punitive damages to Alaska natives, fishermen, business owners and others harmed by the massive 1989 oil spill off Alaska.

The ruling by 9th U.S. Circuit Court of Appeals in San Francisco on Monday affirms the figure set by the U.S. Supreme Court last year. Plaintiffs originally were awarded $5 billion, but that amount was cut in subsequent appeals by Irving, Texas-based Exxon.

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Exxon to Pay $507.5m

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