SmarTrend(R) News Watch: Exxon Decides To Pay $470 Million To End Valdez Appeal
Tue. June 30, 2009; Posted: 07:45 AM
Jun 30, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- Exxon Mobil Corp (NYSE:XOM) announced today that it would pay $470 million in interest to the victims of the 1989 Valdez oil spill. This payment follows the $507.5 million judgment won by the same group of people. After years of fighting, the company decided not to challenge the appeals court ruling any more and pay the interest that began accruing in 1996, when the court had awarded the original damages to the victims.
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