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Appeals court chops $2 billion off Exxon Valdez punitive damages award
22 Dec 2006, 6:53 pm
[JURIST] The US Court of Appeals for the Ninth Circuit Friday reduced by $2 billion a 1994 damages award against ExxonMobil corporation in respect of the sinking of the tanker Exxon Valdez, which caused a major Alaska oil spill [Anchorage Daily News archive] when it ran aground [BBC file report] in Prince William Sound in 1989. [read post]
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