Excessive award of punitive damages
Incidence
In 1994, a federal jury in Alaska, USA awarded punitive damages against Exxon of $5 billion for the spectacular oil spill in Alaska's Prince William Sound in 1989. This is in addition to payment of $286 million in compensatory damages to 10,000 fishermen, of $2.9 billion on environmental cleanup, and $1 billion in settlements of various federal and state claims.
Claim
Punitive damages need stern legislative review. The quest for punitive damages has become a trial lawyers' blood sport presenting tempting opportunities to raid someone else's purse.
Broader
Strategy
Value
SDG
Metadata
Database
World problems
Type
(F) Fuzzy exceptional problems
Subject
- Commerce » Currency
- Research, standards » Awards
- Societal problems » Punishment
Content quality
Yet to rate
Language
English
Last update
Nov 29, 2022