Southern Peru: Record-breaking victory against majority shareholder

Secured the largest damage award in Delaware Chancery Court history in a shareholder derivative action against copper mining company Southern Peru’s majority shareholder, Grupo Mexico. 

In 2005, Southern Peru’s acquired Minera Mexico, a private mining company owned by Grupo Mexico, for more than $3 billion in Southern Peru stock. At trial, we alleged that Grupo Mexico had caused Southern Peru to grossly overpay for the private company. The trial court agreed and ordered Grupo Mexico to pay more than $2 billion in damages and interest. The Delaware Supreme Court affirmed on appeal.

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