NEW YORK (CNNMoney) -- Chevron has vowed to fight a multi-billion dollar judgment from an Ecuadorian court accusing the oil company of polluting the Amazon rainforest.
"The Ecuadorian court's judgment is illegitimate and unenforceable," said Chevron, in a press release Monday. "It is the product of fraud and is contrary to the legitimate scientific evidence."
But the organization Amazon Watch believes that justice already has prevailed.
Amazon Watch praised the court in Lago Agrio for ruling in favor of Ecuadorians from the Amazon region "who have spent the last 18 years seeking damages for crude oil pollution."
"Today's ruling in Ecuador against Chevron proves overwhelmingly that the oil giant is responsible for billions of gallons of highly toxic waste sludge deliberately dumped into local streams and rivers, which thousands depend on for drinking, bathing and fishing," said Amazon Watch, in a press release.
The organization said that Chevron "inherited the suit" upon purchasing Texaco in 2001.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.65%||3.75%|
|15 yr fixed||2.76%||2.91%|
|30 yr refi||3.66%||3.79%|
|15 yr refi||2.79%||2.99%|
Today's featured rates:
Unionized Verizon workers who had been striking since mid-April will return back to work on June 1 after negotiating a healthy pay raise and bonus. More
The FBI has opened a national security investigation into the hacking of Bangladesh's central bank amid signs that the hack might have come from North Korea. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
The gender pay gap in the labor market is pretty well documented. But the gender gap also exists in the housing market. More