Lion Oil Co. recently won a drawn-out lawsuit in federal court in Arkansas against its insurers related to claims stemming from a ruptured pipeline owned and operated by an ExxonMobil subsidiary.
The jury handed down a $71,744,675 verdict, finding that damage to the pipeline owned and operated by the ExxonMobil Pipeline Co., a subsidiary of ExxonMobil, was the “dominant, direct and efficient cause of any of Lion Oil’s losses or expenses” stemming from the incident. Specifically, the jury determined in its verdict that Lion Oil’s net margin or income losses related to the incident were $60,404,000. In addition, the jury found that Lion Oil’s expenses caused by the incident were $11,340,675.
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