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Delaware Court of Chancery awards $1.263 billion in damages for controlling stockholder transaction found to be unfair

  • Jones Day
  • -
  • USA
  • -
  • November 16 2011

On October 14, 2011, Chancellor Leo Strine of the Delaware Court of Chancery awarded $1.263 billion to Southern Peru Copper Corp. ("Southern Peru") following trial of a derivative lawsuit against a controlling stockholder of Southern Peru and certain of its affiliates who served as directors of Southern Peru