Quimbee logo
DMCA.com Protection Status

In re Southern Peru Copper Corp. Shareholder Derivative Litigation

30 A.3d 60 (2011)

Case BriefRelatedOptions
From our private database of 30,900+ case briefs...

In re Southern Peru Copper Corp. Shareholder Derivative Litigation

Delaware Court of Chancery

30 A.3d 60 (2011)

Facts

Grupo México, S.A.B. de C.V. (Grupo México) (defendant) was the controlling stockholder of Minera México, S.A. de C.V. (Minera México), a Mexican mining company that was not publicly traded. Southern Peru Copper Corporation (Southern Peru) was a mining company listed on the New York Stock Exchange. Grupo México was also the majority shareholder of Southern Peru. Grupo México offered to sell its interest in Minera México to Southern Peru for approximately $3.1 billion worth of shares of Southern Peru stock. Southern Peru created a special committee (defendant) of independent and disinterested directors to analyze the proposed sale. The special committee determined that Minera México was worth at least $1 billion less than the proposed $3.1 billion sale. Instead of suggesting different terms for Southern Peru’s acquisition of Minera México, the special committee approved Southern Peru’s acquisition of Minera México from Grupo México for $3.1 billion worth of stock. Southern Peru’s board of directors (defendant) also approved the acquisition. A shareholder (plaintiff) filed a shareholder derivative suit in Delaware Chancery Court against Grupo México, the special committee, and the board of directors alleging that Southern Peru’s acquisition of Minera México was unfair to Southern Peru and its minority shareholders because Minera México was not worth the amount paid to Grupo México.

Rule of Law

Issue

Holding and Reasoning (Strine, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 551,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 551,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 30,900 briefs, keyed to 984 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 551,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 30,900 briefs - keyed to 984 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership