Some of New Jersey’s Money From Exxon Settlement Will Go to Legal Fees

"New Jersey’s decision to settle a multibillion-dollar pollution lawsuit with Exxon Mobil Corporation has come under broad criticism, as lawmakers and environmentalists have questioned why the state would agree to accept only $225 million — a small fraction of the $8.9 billion in damages it was seeking in court.

But if the deal is approved, the state will not even get that much: New Jersey’s recovery will most likely total about $180 million or so, after legal fees and costs are deducted, records show.

The litigation was handled on a contingency basis by an outside law firm, Kanner & Whiteley of New Orleans, which specializes in environmental lawsuits. The firm, retained by the state, had worked closely with the state attorney general’s office and Department of Environmental Protection, the records show."

Benjamin Weiser reports for the New York Times March 9, 2015.

SEE ALSO:

"Lawmakers Move To Halt New Jersey's $225M Exxon Settlement" (AP)