The award by Delaware’s Chancery Court was $2 billion with an equally unprecedented $304 million in attorney’s fees for the plaintiffs.
That’s $35-thousand an hour for those lawyers.
The judgment was upheld by the state Supreme Court on a 4-to-1 vote in the suit filed by Southern Copper shareholders against Grupo Mexico SAB.
That firm was accused of directing its subsidiary Southern Copper to acquire a third mining company for an over-inflated price.
That led to the suit by the shareholders of Southern Copper.