"NJ Judge Approves Exxon $225 Million Cleanup Settlement"

"Exxon Mobil Corp's controversial $225 million settlement with New Jersey of a longstanding environmental pollution case won approval on Tuesday from a state judge, despite objections from critics who viewed the accord as a sellout.

Judge Michael Hogan of the State Superior Court called the accord a "reasonable compromise" even though the payout was less than 3 percent of the $8.9 billion of damages that New Jersey had estimated.

Environmental critics and Democratic legislators have faulted the administration of Gov. Chris Christie, a Republican running for U.S. president, for entering a lowball settlement rather than pressing ahead with litigation that began in 2004."

Jonathan Stempel reports for Reuters August 26, 2015.

SEE ALSO:

"Lawmaker Sees Opening for Appeal of $225m Exxon Ruling" (AP)