9th Circuit Doubles Award For Valdez Spill
Professor Jeffrey L. Fisher is quoted in the Daily Journal in an article that discusses Monday's ruling by the U.S. Court of Appeals for the Ninth Circuit doubling the amount originally awarded to the plaintiffs in the Exxon Valdez oil-spill case:
ExxonMobil Corp. must pay about $500 million in costs and interest on the punitive damages it owes Alaska fishermen, a travel company and other plaintiffs for the 1989 Exxon Valdez oil spill, the 9th U.S. Circuit Court of Appeals held Monday.
The interest and costs will double the punitive award to a total above $1 billion, a divided three-judge panel ruled. In re The Exxon Valdez, 04-35182.
With the ruling, epic litigation over how much Exxon should be financially punished may be winding down 20 years after the tanker the Exxon Valdez hit a reef and spilled 10.8 million gallons of crude oil, devastating Alaska's Prince William Sound.
The sum of costs and interest due came out to about half a billion dollars, said Stanford Law School professor Jeffrey L. Fisher, who represented the plaintiffs.