Exxon Appeals Judgment in Valdez Case

Exxon Corp. said it filed documents with the U.S. District Court in Anchorage, appealing the $5.06-billion judgment stemming from the Exxon Valdez case. Exxon said it’s seeking to have the judgment “set aside or substantially reduced.” The Valdez ran aground in Prince William Sound in 1989, spilling 11 million gallons of oil. Exxon said it filed papers listing more than 40 legal issues that may be raised. The appeal will be heard by the U.S. 9th Circuit Court of Appeals in San Francisco. “The filings of these papers marks the start of Exxon’s appeal of this excessive and unwarranted judgment,” said Lee Raymond, the Irving, Texas-based company’s chairman.