Supreme Court reduces Exxon Valdez fine to $500 million

06/26/2008 | Financial Times (free content)

The U.S. Supreme Court on Wednesday decreased the punitive damages that ExxonMobil must pay for the 1989 Exxon Valdez spill in Alaska from $2.5 billion to $500 million. ExxonMobil already paid out about $500 million in compensatory damages and the court ruled that punitive damages should not exceed compensation already paid.

View Full Article in:

Financial Times (free content)

Published in Brief: