Wednesday, December 03, 2008
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Valdez in the news again
Last Post 28 Feb 2008 09:21 PM by John Postava. 4 Replies.
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Linda AsberryUser is Offline
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26 Feb 2008 07:30 PM  

It will be interesting to watch as the Supreme Court hears agruments on whether to assess Exxon with punitive damages as some 30,000 Alaskans are hoping.  The original fine of $5B was cut in half to $2.5B with about 2 billion in interest.  There is over a billion of that in attorney fees and I have to wonder how much the damaged individuals will eventually have in their hand.

 

Steve BeaumontUser is Offline
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26 Feb 2008 08:11 PM  
Probably not the best time for Exxon to be announcing record profits for the last 6 quarters or so straight while everyone in the country who drives a gas powered vehicle is pissed at the high price of gas. Maybe the Supremes will give a chunk of those record profits back to the people, or at least a few of them.
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27 Feb 2008 03:28 PM  

A billion dollars in attorneys fees, your kidding. There is no firm or lawyer in the United States worth that kind of money. The Lawyers win, the plaintiffs lose. Reminds me of the billion dollars Dickie Scurggs made and now look where he is at. The tobacco settlement was a joke and was nothing but an additional tax burden on smokers in the form of higher prices. I hope the Alaskans get what they deserve. That reckless event cost them dearly and the courts could care less. That is a deserved money for people who were financially hurt for many years.

Success is not final, failure is not fatal: it is the courage to continue that counts.
Linda AsberryUser is Offline
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28 Feb 2008 05:05 PM  
Tom, there are some 100 law firms involved for the approximately 32-33,000 plaintiffs (depends on which news report you read), however, there is one major law firm in Minnesota, I think, that will get the lion's share.

I seem to recall a remark made by an attorney in Florida about another class action suit and in front of the insured was commenting on he wondered how much the attorney fees would be. If memory serves me correctly I remarked, "Who cares? How much will the insureds get??"

At the end of the day, how much will the insureds get in their hands to put their lives back together or as much as they can. Some of the plaintiffs are now deceased and others have had their lives torn apart for many years and not a copper cent in their pockets due to the legal mess.
John PostavaUser is Offline
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28 Feb 2008 09:21 PM  
I heard on the news this morning at the rate Exxon is earning profits it would take them only 3 weeks to step up to the plate and pay the fine. The longer the case goes on with appeal after appeal the less folks will get. The only ones who profit from CA suits are the lawyers...
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