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"When the Supreme Court cut Exxon's payout to the Alaskan Fishermen after a lower court had given them $2.5 Billion..it was cut back in the Millions.
Hopes of fishermen throughout Washington and Alaska were sunk Wednesday when the Supreme Court slashed the amount of punitive damages that Exxon must pay for the epic Exxon Valdez oil spill nearly two decades ago.
The high court, in a 5-3 decision, found that punitive damages could not be larger than the compensatory damages for actual losses from the spill, which totaled $507.5 million.
The justices rejected the amount — $2.5 billion — that a federal appeals court had granted to be shared by 32,677 plaintiffs who had claimed damages from the worst oil spill in U.S. history, including fishermen, Alaska natives, local businesses and others.
That amount had been reduced from the $5 billion that a jury awarded in 1994."
http://seattletimes.nwsource.com/html/localnews/2008018035_exxon26m.html