9th Circuit Orders Reduction of $5 Billion Punitives Award in Exxon Valdez Case

The 9th U.S. Circuit Court of Appeals Wednesday threw out as excessive the $5 billion punitive damages verdict against Exxon for the 1989 Exxon Valdez oil spill in Alaska and ordered a judge to determine a lesser amount. A jury in Anchorage, Alaska, had ordered the oil giant in 1994 to pay the sum to thousands of commercial fishermen, Alaska natives, property owners and others harmed by the nation's worst oil spill.

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9th Circuit Orders Reduction of $5 Billion Punitives Award in Exxon Valdez Case

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