Standing and Interest Calculations Upheld
The panel also rejected Sunoco’s challenge to standing, noting that each class member suffered a traceable monetary injury when Sunoco withheld automatic interest payments.
Majority Backs 12% Compounded Interest
The majority sided with the district court’s use of 12% annual compound interest, finding the PRSA mandates such accrual until the relevant proceeds and interest are paid.
Judge Moritz disagreed, contending that once proceeds are paid, interest should stop accruing, and she would have remanded for recalculation of the nearly $104 million interest award.
What Comes Next
Counsel for the landowners declined to comment, and Sunoco did not respond to inquiries late Monday. The panel consisted of Judges Matheson, Moritz, and Federico. The class is represented by Russell S. Post and Owen J. McGovern of Beck Redden LLP.
The ruling leaves Sunoco facing more than $100 million in liability — even with the Sunoco Oil Ruling $75M Knock Off eliminating punitive damages — as the high-stakes fight over Oklahoma oil royalties rolls into its next phase.
