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

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.

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Comments (12)
    , contributor
    Comments (5167) | Send Message
    Finally !


    Now to cut the u.s. court corruption on BP rulings which continue to be criminal !
    4 Mar 2014, 11:00 AM Reply Like
  • JDDurango
    , contributor
    Comments (476) | Send Message
    Glad to get this out of the way.
    4 Mar 2014, 11:05 AM Reply Like
  • FleetUSA3226
    , contributor
    Comments (881) | Send Message
    485 page ruling according to the WSJ. Well done Judge Kaplan
    4 Mar 2014, 11:34 AM Reply Like
  • Michael Fitzsimmons
    , contributor
    Comments (11663) | Send Message
    Yup - it took a long time, but the rather obvious ruling has finally been reached.
    4 Mar 2014, 11:45 AM Reply Like
  • epeon
    , contributor
    Comments (553) | Send Message
    I have followed this for some time. Yes, it was an obvious ruling.
    4 Mar 2014, 12:00 PM Reply Like
  • doglesby
    , contributor
    Comment (1) | Send Message
    Finally, justice is done.
    4 Mar 2014, 01:03 PM Reply Like
  • Former Citi Employee
    , contributor
    Comments (7) | Send Message
    Now they ought throw the attorney that orchestrated it in jail.
    4 Mar 2014, 01:35 PM Reply Like
  • FleetUSA3226
    , contributor
    Comments (881) | Send Message
    Interest there isn't much of a pop in CVX today. I guess the ruling was totally expected.
    4 Mar 2014, 02:02 PM Reply Like
  • Robin Hewitt
    , contributor
    Comments (5632) | Send Message
    It was. I've been expecting it for at least three years.
    4 Mar 2014, 07:14 PM Reply Like
  • slam stocks
    , contributor
    Comments (1454) | Send Message
    Glad this is finally over.
    4 Mar 2014, 03:01 PM Reply Like
  • smurf
    , contributor
    Comments (6370) | Send Message
    Hope more of these banana republic heists bit the dust as well.
    4 Mar 2014, 04:42 PM Reply Like
  • tommy2
    , contributor
    Comments (7) | Send Message
    Hopefully the higher courts won't touch this.
    4 Mar 2014, 05:44 PM Reply Like
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