September 16th, 1994
32 years since
In re Exxon Valdez (Punitive Damages Litigation)
32 years ago today, in United States, in re Exxon Valdez (Punitive Damages Litigation).
Class action arising from the 1989 Exxon Valdez oil spill. 1994 Anchorage jury awarded $5B in punitive damages. After 14 years of appeals, Exxon Shipping Co. v. Baker (2008) reduced the punitive damages to ~$507M, capping maritime punitive damages at compensatory damages 1:1.
What it caused
- Exxon Valdez Oil Spillrelated to
- Oil Pollution Act of 1990influenced