Mexican court tosses $2.7 bn penalty in Yahoo! case

May 16, 2013

Yahoo! announced on Thursday that a Mexican appeals court tossed out a $2.7 billion dollar damages award in a breach of contract lawsuit.

"The appellate decision overturned all monetary awards against Yahoo! Inc. and reduced the monetary award against Yahoo! Mexico to $172,500," the California-based said in a release.

"Yahoo! Mexico was awarded $2.6 million in the original judgment, and this award was confirmed by the appellate decision."

The lawsuit was brought by Worldwide Directories SA de CV and Ideas Interactivas, alleging "breach of contract, breach of promise, and lost profits arising from contracts related to a yellow pages listing service."

In November, the 49th of the Federal District of "entered a non-final judgment of US $2.7 billion against Yahoo! Inc. and Yahoo de Mexico" in the case, according to the US firm.

Yahoo! contended the claims were "without merit" and appealed to the Superior Court of Justice for the Federal District in Mexico, which sided with Yahoo! and overturned the ruling, the release stated.

Yahoo! did not provide details regarding facts of the case.

Yahoo! shares were up slightly to $26.75 in after-market trades.

Explore further: Yahoo! ordered to pay $2.7 bn by Mexican court

Related Stories

Yahoo! ordered to pay $2.7 bn by Mexican court

November 30, 2012

Yahoo! said Friday it was ordered to pay $2.7 billion by a Mexican court in a lawsuit stemming from allegations of breach of contract and lost profits related to a yellow pages listing service.

Yahoo! to be online home of 'Saturday Night Live'

April 25, 2013

Yahoo! on Thursday continued its transformation into a stage for online media with a deal to stream "Saturday Night Live" television shows stretching from the current season back to 1975.

Recommended for you

Microsoft aims at Apple with high-end PCs, 3D software

October 26, 2016

Microsoft launched a new consumer offensive Wednesday, unveiling a high-end computer that challenges the Apple iMac along with an updated Windows operating system that showcases three-dimensional content and "mixed reality."

Making it easier to collaborate on code

October 26, 2016

Git is an open-source system with a polarizing reputation among programmers. It's a powerful tool to help developers track changes to code, but many view it as prohibitively difficult to use.

Dutch unveil giant vacuum to clean outside air

October 25, 2016

Dutch inventors Tuesday unveiled what they called the world's first giant outside air vacuum cleaner—a large purifying system intended to filter out toxic tiny particles from the atmosphere surrounding the machine.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.