Del. High Court Affirms $2B Grupo Mexico Judgment

Law360, Wilmington (August 27, 2012, 6:33 PM EDT) -- The Delaware Supreme Court on Monday upheld a $2 billion judgment leveled against Grupo Mexico SAB in a shareholder derivative suit over a questionable acquisition between mining companies it controlled and affirmed a lower court's award of more than $304 million in attorneys' fees.

A five-judge panel affirmed the methodology and the findings of the Delaware Chancery Court, which ruled last year that Grupo Mexico had taken advantage of Southern Copper Corp. by pressuring it to acquire Minera Mexico, a troubled company with no market-tested value,...
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