Focus (Forum & Focus)
Nov. 27, 2007
Punitive Judgment Against Exxon May Lead to Worse Corporate Behavior
Forum Column - By William L. Troutman - Failure to consider the oil company's efforts to compensate those hurt by the grounding of the Valdez could lead other corporations to avoid such efforts at private remedies.
By William L. Troutman
Although the grounding of the Exxon Valdez occurred two decades ago, the 9th U.S. Circuit Court of Appeals issued its final opinion on the punitive-damages award from the resulting litigation in May 2007, revising the jury's initial $5 billion award to $2.5 billion on due-process grounds. On Oct. 29, the Supreme Court granted certiorari of the revised award but excluded the key due-pr...
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