In oral arguments before the Delaware Supreme Court on Thursday, attorneys for Grupo Mexico SA argued that record-setting awards for damages and attorney fees made by the Delaware Court of Chancery in the Southern Peru shareholder litigation should be reversed because the trial court abused its discretion by refusing to allow a Goldman Sachs adviser to testify.
Defense counsel contended that Chancellor Leo E. Strine Jr. erred in prohibiting the testimony of James Del Favero, the current head of Goldman Sachs’ fairness committee, in the Chancery Court’s consideration inIn re Southern Peru Copper Shareholder Derivative Litigation .
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