The OilSpot News from DTN Energy
Monday, June 16, 2003 VOLUME 1 ISSUE 48  


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Appeals Court Upholds $1.2 Billion Verdict Against Exxon


Eleventh Circuit Court of Appeals agreed with a lower court ruling that found Exxon liable for overcharging direct-served service station dealers between March 1, 1983 and August 28, 1994. After interest, the class action lawsuit can cost Exxon $1.2 billion, with the average claim at $100,000. 

At the February 2001 trial, the class action suit proved to the courts its case that Exxon acted in bad faith by overcharging its dealers for the wholesale price of motor fuel, and then fraudulently concealed the overcharge.

 

“While we are pleased with the outcome, it is impossible after all these years to make up for the harm caused by Exxon to thousands of Exxon families across the country,” said Gene Stearns, one of the lawyers representing the class at trial and on appeal. “Our mission now is to reach out to these dealers and their heirs to ensure that all submit their claims to receive the money due them.”

 

The class consists of the approximately 10,000 current or former direct-served dealers who owned or operated an Exxon service station between March 1, 1983 and August 28, 1994, and were party to one or more sales agreements with Exxon Corporation. The class also includes anyone who purchased, inherited, or otherwise acquired the rights of an Exxon dealer.

 


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