Exxon Plaintiffs Win On Interest, Appeal Costs
Professor Jeffrey L. Fisher is quoted in The Recorder in an article about a ruling by the U.S. Court of Appeals for the Ninth Circuit requiring Exxon Mobile to pay interest on damages awarded to plaintiffs in the Exxon Valdez oil spill case:
An attorney for the plaintiffs, Davis Wright Tremaine partner Jeffrey Fisher, said he was "satisfied and grateful."
In addition to ordering Exxon to pay its own costs on appeal, the court ruled that interest on the $507.5 million in punitives should run from the day the original judgment was entered in 1996, back when the interest rate was 5.9 percent, rather than a later date following the Supreme Court's 2008 decision.
That means the plaintiffs are now entitled to around $500 million in interest, Fisher said.
The ruling is Baker v. Exxon Mobile Corp, 08 C.D.O.S. 7348.