Exxon v. Baker: The United States Supreme Court Limits Punitive Damage Awards Under Maritime Law
On 25 June 2008, the United States Supreme Court issued its opinion in Exxon Shipping Co. v. Baker, concerning the limits of punitive damages which may be assessed under federal maritime law. The Court held that under federal general maritime law governing maritime cases, an award of punitive damages may be greater than a 1:1 ratio as compared with compensatory damages. The Supreme Court reduced the prior $2.5 billion punitive damages award to $500 million. View full article (PDF).