Yahoo Hit with Multi-Billion Dollar Mexican Judgment
It’s apparently not a final decision
By: Maureen O'Gara
Dec. 10, 2012 07:00 AM
A Mexican court told Yahoo Friday that it owes $2.7 billion in a breach of contract, breach of promise and lost profits suit arising from contracts related to a Yellow Pages telephone listings service.
It's apparently not a final decision.
The verdict was issued by the 49th Civil Court of the Federal District of Mexico City in a case filed by Worldwide Directories SA de CV and Ideas Interactivas SA de CV.
Yahoo contends that the plaintiffs' claims are without merit and says it will appeal.
Yahoo has a market value of $22.2 billion and cash on hand worth roughly $8.41 billion as of September 30. Bloomberg figures the assessment is more the tip.
Reader Feedback: Page 1 of 1
SOA World Latest Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week