Tuesday, June 23, 2009

Exxon to Bear Its Own Costs in Punitive Damages Case

BNA Law Week reports that the 9th Circuit has held that each party must bear its own costs in the Exxon punitive damages litigation. (Baker v. Exxon Mobil Corp. (In re Exxon Valdez), 9th Cir., No. 04-35182, 6/15/09).  The costs were substantial -- approximately $70 million -- mostly attributable to the bond the company had to put up.  The original award was $5 billion and it was reduced to approximately $500 million.  While the reduction was substantial, the 9th Circuit held that the results were sufficiently mixed that Exxon was not the "prevailing party" such that costs could be shifted under Fed. R. App. P. 39(a)(4) (stating that "if a judgment is affirmed in part, reversed in part, modified, or vacated, costs are taxed only as the court orders.")

ADL

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Products Liability, Punitive Damages | Permalink

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