COURT CLEARS EXXON IN CONSPIRACY SUIT

A federal court jury in Los Angeles found Exxon Corp. innocent of conspiring to fix oil prices in the 1970s. The case stemmed from a 1975 lawsuit filed by California and the city of Long Beach seeking $750 million to $1 billion in damages from lost revenue. Because it was an antitrust suit, damages would have tripled if Exxon had lost. The suit included Mobil Corp., ARCO, Texaco Inc., Shell Oil Co., Unocal Corp., and Chevron Corp., but by yearend 1991 they had agreed to settlements totaling

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