U.S. Supreme Court overturns Exxon Valdez oil spill damages
The US Supreme Court (SCOTUS) made history today by overturning the US$2.5 billion in punitive damages granted to the victims of the 1989 Exxon Valdez oil spill disaster. It was, they determined, excessive — and therefore reduced to US$507 million. Remember, too, that the US$2.5 billion was about half of the US$ 4 billion that [...]