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Exxon Valdez $2.5 Billion Oil Spill Ruling Overturned

Reuters
Jun 25, 2008

Alaskan residents stand outside the U.S. Supreme Court, asking for the ruling to be upheld, on Feburary 27, 2008 in Washington, DC. (Tim Sloan/AFP/Getty Images)
Alaskan residents stand outside the U.S. Supreme Court, asking for the ruling to be upheld, on Feburary 27, 2008 in Washington, DC. (Tim Sloan/AFP/Getty Images)


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WASHINGTON—The Supreme Court overturned Wednesday the $2.5 billion in punitive damages that Exxon Mobil Corp was to have paid for the 1989 Exxon Valdez oil spill off Alaska.

The high court ruled that the punitive damages should be limited to an amount equal to the compensatory damages of $507.5 million.


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