Americas Mining v. Theriaualt

Summary

In this oral argument before the Delaware Supreme court, Counsels of plaintiff argued against the Chancery court decision in the Southern Peru Copper litigation. In the lower court case, In re Southern Peru Copper Corp. Shareholder Derivative Litigation, Chancellor Leo E. Strine determined that the controlling stockholder defendants breached their fiduciary duty of loyalty in a transaction involving the controlling stockholder's subsidiary; the Delaware Court of Chancery had awarded damages of more than $2 billion and $304 million in attorneys' fees to the plaintiffs in that case.

Plaintiff, Americas Mining Corporation was represented by attorneys S Hurd and Bruce Angiolillo. The defendant in this case, Michael Theriault was represented by attorneys Richard Facciolo and Raymond DiCamillo.