December 3, 2008
Wednesday
     

Justices Take Up Battle Over Exxon Valdez

Date: 02-28-2008
Type: news brief
Categories: Business Ethics / Environment
Source: New York Times
Organization:
New York Times

Exxon’s lawyer told the Supreme Court that its infamous oil spill which resulted in one of the worst environmental disasters in history was a “tragedy,” but argued that the company has been punished enough by $3.4 billion in criminal fines, cleanup costs and compensation payments, and that the $2.5 billion in punitive damages approved by a federal appeals court served no additional “public purpose.”

With Justice Samuel A. Alito Jr. not participating, a result of his ownership of Exxon Mobil stock, the possibility of a 4-to-4 tie was clearly present. A tie would affirm the appeals court’s judgment in favor of a class of 32,000 fishermen and business owners, who stand to receive about $75,000 apiece from the $2.5 billion award. It was abundantly clear to everyone in the crowded courtroom that if the plaintiffs could just hold on to four votes, they would win the case. To read more, please click here.

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