Story last updated at 4:36 p.m. Thursday, June 13, 2002

Exxon files to reduce damages
Exxon Mobil Corporation announced Wednesday it had filed a motion with the federal court in Anchorage for a reduction of the punitive damages awarded in the 1989 Exxon Valdez accident. The corporation said the motion is consistent with the Ninth Circuit Court of Appeals decision last year, which declared the $5 billion punitive damages award "excessive" and sent the case back to the Anchorage District Court with orders to reduce the award to an amount consistent with constitutional limits.

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