Class Action Lawsuit: Exxon Mobile
In its time as one of the world’s leading oil and natural gas companies, Exxon Mobil has undertaken a number of corporate actions that have been the subject of several class action lawsuits. Perhaps the most famous of these class action suits arose out of an oil spill in the Prince William Sound in 1989. The Exxon Valdez supertanker ran aground, triggering an environmental catastrophe that many experts consider the worst to ever occur in the United States.
Although Exxon Mobil offered to pay damages to surrounding communities and people directly affected by the spill, those people indirectly affected by the tanker’s accident felt that the compensation offered was not sufficient. They joined together in a massive class action lawsuit, alleging that the spill endangered the lives and livelihoods of several thousand fishermen, hunters and members of native communities in the Alaska region. A verdict was reached in 1994 that recommended a lump sum payment of $5 billion to all impacted parties by Exxon Mobil. This figure included restitution charges, damages, environmental penalties and community stimulus.
After over 15 years of legal challenges and appeals by Exxon Mobil’s powerful legal team, the total damages payment was reduced to just over $1 billion. The Supreme Court even weighed in on the case in 2008, opening that the amount of damages sought was too large and should be reduced to between $500 and $600 million. Despite the final figure being far lower than the original settlement amount, the Exxon Valdez case demonstrates the power of collective action — the case would never have gotten off the ground if each plaintiff had pursued an individual case.
Wagner, McLaughlin & Whittemore is a Florida class action lawsuit lawyer that can help you achieve victory in an underdog case against a seemingly invincible corporate foe. In their search for a class action lawyer Tampa residents can do no better than the law firm of Wagner, McLaughlin & Whittemore — the firm is a trusted pillar of the community that hires only the best and brightest legal minds. Contact the firm today for a brief consultation on the merits and procedure involved in class action lawsuits.