ALASKA – Senior U.S. District Judge H. Russel Holland of the District of Alaska Friday reinstated a punitive damages award of $4 billion against Exxon Mobil Corp, for the Exxon Valdez oil spill. Last year, the 9th U.S. Circuit Court of Appeals ruled that the original record award of $5 billion “must be reduced,” because it was inconsistent with intervening Supreme Court precedents. The move could add more years of litigation to the case. It’s been 13 years since the Exxon Valdez spilled 11-million gallons into Prince William Sound.
(via The Recorder)
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