Mar 12, 2009
More on Exxon: Is Snyder’s $150M win really a loss?
By: Barbara Grzincic
Stephen Snyder was denied the billion-dollar verdict he had hoped for — the first of his career — but it’s hard to feel too sorry for him. His team estimates today’s total award in this lawsuit, stemming from a five-week, 26,000-gallon gasoline leak at a Jacksonville Exxon station, at $150 million. (I may have missed one, but it’s at least the fifth verdict above $100M of Snyder’s career.)
Still, the jury rejected claims of fraudulent concealment, which means no punitive damages, which means no billion-dollar verdict. As a result, I’ve already heard a couple people refer to this as a loss. They figure Snyder set the bar at a billion, then failed to clear it. What do you think?
A WIN’S A WIN…….THE COMMISION ON 150 MILLION TAIN’T BAD…………………..!!!
Depends how much Exxon’s final setlement offer was. If Exxon had offered $150 in settlement before trial, then Snyder wasted everyone’s time and money. If Exxon had offered significantly less, then the verdict is a victory. Anyone know what was Exxon’s final settlement offer?
I believe there was no final settlement offer from Exxon. So I think the $150 million dollars is a win for Snyder.
does anyone know what the final figure was.did they pay or appeal, will there be 5 more years of waiting.
James — The trial judge upheld almost all of the awards on Sept. 15 but did reduce some of them, which cut the total by less than $4 million. Exxon still could appeal. Here’s a link to Danny Jacob’s story on the ruling if you want more details:
http://www.mddailyrecord.com/article.cfm?id=13387&type=UTTM