ExxonMobil to appeal $3.5 billion Alabama verdict

ExxonMobil Corp. plans to appeal a $3.5 billion verdict awarded in a case that alleged predecessor Exxon Corp. defrauded Alabama of royalties on production from 10 gas wells in state waters in Mobile Bay, company officials said.That judgment is six times the previous record for civil damages in that state.Jurors awarded Alabama $87.7 million in compensatory damages and $3.42 billion in punitive damages.The award approaches in scale the $5 billion in punitive damages awarded in 1994 by a federal jury to 34,000 fishermen and other Alaskans following the Exxon Valdez oil spill in Prince William Sound in 1989. ExxonMobil's appeal of that judgment is still pending.DisputeThe dispute betwee...

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