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Judge orders Exxon to pay $7B for Valdez spill
Thursday, January 29, 2004
A federal judge in Alaska ordered Exxon Mobil Corporation to pay $7 billion in damages and interest to Alaska Natives, fishermen, land owners and others affected by the Exxon Valdez oil spill of 1989.
The damages award was the third by U.S. District Judge H. Russel Holland. The 9th Circuit Court of Appeals, on two separate occasions, vacated awards of $5 billion and $4 billion, not including interest, as unlawful.
About 10,000 Alaska Natives are considered plaintiffs in the suit. Lawyers hope the ruling is the final chapter but the company says it will appeal again.
Get the Story:
Judge raises Exxon damages (The Anchorage Daily News 1/29)
Judge orders Exxon Mobil to pay nearly $7 billion in spill damages (AP 1/28)
$4.5 Billion Award Set for Spill of Exxon Valdez
(The New York Times 1/29)
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