Appeals Court Reduces Verdict Against Exxon
A Louisiana appeals court reduced a $1-billion verdict against Exxon Mobil Corp. to $112.3 million, while upholding a jury’s finding that the company was responsible for radioactive contamination of land near New Orleans.
Exxon was responsible for polluting the land with radium- containing residue from oil-drilling pipe cleaning operations, said Michael Stag, attorney for the site owners. In May 2001, a New Orleans jury awarded the site owners $56 million for clean-up costs and $1 billion in punitive damages.
The appellate court Thursday upheld the compensatory damages, while calling the punitive award excessive.
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