The largest verdict against an oil company in U.S. History – $11.9 Billion
Beasley Allen Law Firm
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November, 2003 – After 4 weeks of trial, a Montgomery County jury awarded a record $11.8 billion punitive damages award against ExxonMobil Corp. The jury also awarded an additional $103 million in compensatory damages. The claims by the State of Alabama were based on breach of contract and fraud. Beginning in 1993, Exxon had cheated the State by intentionally and willfully underpaying royalties on natural gas from the Mobile Bay field. The future anticipated gain to Exxon, as a direct result of their fraudulent conduct, would have been almost One Billion Dollars.
The jurors heard evidence and saw documents that proved without a doubt that Exxon had committed a massive fraud on the State at the highest level of the company. In fact, it was undisputed that this was the only time that the President of Exxon had actually made a decision on how to pay royalties to any landowner, including states and the federal government.
For more on this case, visit http://www.beasleyallen.com/verdicts/$11,903,000,000-Verdict-Involving-an-Oil-and-Gas-Case/
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