Court cuts damages in Exxon Valdez case
The Supreme Court reduced the punitive damages from 2.5 billion to 500 million for Exxon Mobil Corp in the 1989 Exxon Valdez spill case. The ruling set a cap tied to the economic losses already paid, averaging about 15 thousand dollars per claimant to roughly 33,000 plaintiffs. 5 to 3 decision with Justice Alito recused.
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