Court overturns Strafaktion distinction Exxon-Valdez case
DALLAS USA _ An appellate court overturned a $ 4 billion Strafaktion against the award Exxon Mobil Corp. under the 1989-Exxon Valdez oil spill, Alaska and tells a Federal District Court, damage, Exxon, said Friday.
The decision shows that U.S. courts attention to the U.S. Supreme Court’s action Orders trains very large damage awards, lawyers said Friday.
“I do not think there is no doubt that the Supreme Court is intending to seriously consider the limits punitive damages,” said Thomas M. Melsheimer, Managing Principal at Fish & Richardson PC law firm in Dallas.
In 1994, Irving-based oil giant has been paying $ 5 billion in punitive damages by the oil spill of more than 11 million gallons of crude oil, caused when the tanker Exxon Valdez in Prince rock William Sound, shortly after midnight on March 24, 1989.
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