Sunoco stuck with $155 mln judgment for late royalty payments in Oklahoma
1 Min Read A judge in Oklahoma federal court rejected on Wednesday Sunoco, Inc (R&M)’s bid to cancel or alter a $155 million judgment against it for bypassing obligatory interest while paying royalty owners late. U.S. District Judge John Gibney denied the energy company’s effort to obtain a new trial or a reduced judgment in the class action by 53,000 royalty owners in the state, rejecting the company’s claim that its due process had been violated and that the $75 million it must pay in punitive damage is excessive. To read the full story on Westlaw Today, click here: bit.ly/3mbrlgZ
Source: reuters.com