Exxon rejected by Supreme Court in appeal of $105M verdict

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

The U.S. Supreme Court rejects Exxon Mobil's (XOM +0.3%) appeal of a $105M jury verdict it was ordered to pay for contaminating underground water in NYC with a gasoline additive.

XOM argued unsuccessfully that any award was premature because the city isn’t planning to use the disputed wells in Queens for another 15-20 years.

New York had sued XOM and other oil companies in 2003, alleging they knew the substance would pollute groundwater; a New York-based federal appeals court last year upheld the 2009 jury verdict against the company.