US oil giant Exxon Mobil Corp. plans to appeal a ruling from a Louisiana court
US oil giant Exxon Mobil Corp. plans to appeal a ruling from a Louisiana court which it says did not go far enough in reducing a $1 billion judgment against the oil company in an environmental-damages case.
The appeals court reduced punitive damages from $1 billion to $112 million and left unchanged the jury's award of $56 million in compensatory damages.
Exxon Mobil's general counsel, Charles Matthews, said the company acted responsibly in the case and shouldn't pay any punitive damages. He also said the jury called for a cleanup that goes beyond the requirements of Louisiana regulations.
The case would be appealed to the Louisiana Supreme Court.