Chevron wins U.S. ruling on Ecuador's $19B pollution judgment

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX +0.5%) wins a U.S. judge’s ruling that a multibillion-dollar pollution judgment issued in Ecuador was obtained by fraud, making it less likely that plaintiffs will succeed in collecting the $9.5B award from the company.

The U.S. district judge in Manhattan says CVX provided enough evidence that plaintiffs secured the 2011 judgment by bribing a judge and ghostwriting court documents.

Ecuadorean villagers and activists working on their behalf argue CVX should be held financially responsible for pollution of the Amazon rainforest by Texaco from the 1960s through the 1990s, and an Ecuadorean court ordered the company to pay $19B, which was later reduced to $9.5B.