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Tag: Damages


NOAA

Supreme Court Slashes Exxon Valdez Penalty

Nineteen years ago, the Exxon Valdez supertanker struck a reef in Alaska, causing an environmental catastrophe so devastating its impact continues to be felt. A court later slapped Exxon with $5 billion in punitive damages, but on Wednesday the Supreme Court ruled that the oil giant shouldn’t have to pay more than about a tenth of that amount.

Posted on Jun 25, 2008 READ MORE


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