Court refuses to review $500M verdict against Exxon

[Judi Lynn]

Posted on Tue, Mar. 16, 2004

Court refuses to review $500M verdict against Exxon

CATHERINE WILSON
Associated Press


MIAMI - A court's refusal to reconsider its decision supporting a $500 million jury award against Exxon may allow the first payments to as many as 10,000 gas station owners by September, their attorneys said Tuesday.

The 11th U.S. Circuit Court of Appeals issued an order Monday saying the full court would not review a decision by a three-judge panel upholding the verdict on station owners' claims that they were overcharged for gasoline for 12 years.

With interest building since 1983, the value of the judgment has grown to $1.3 billion, or an average of $130,000 for each owner in 34 states and the District of Columbia, their attorneys estimate.

"Exxon did not prevail," said dealers' attorney Eugene Stearns. "They're down to their last gasp of trying to prevent their dealers from recovering the money that they have been owed for a very long time."
(snip/...)

http://www.miami.com/mld/miamiherald/business/8200532.htm

[burythehatchet]

1. a billion here a billion there, pretty soon it may mean something

to the poor oil companies

[Florida_Geek]

2. When will Delay introduce a bill

saying the Oil companies do not have to pay lawsuits.