Reuters: Technology News: Mexican court enters preliminary $2.7 billion judgment against Yahoo

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Mexican court enters preliminary $2.7 billion judgment against Yahoo Nov 30th 2012, 22:51 Tweet Share this Email Print Analysis & Opinion Defense firm vows to put an end to new wave of say-on-pay suits How Argentina lost game of chicken with renegade bondholders The headquarters of Yahoo Inc. is pictured in Sunnyvale, California, May 5, 2008. Credit: Reuters/Robert Galbraith SAN FRANCISCO | Fri Nov 30, 2012 5:51pm EST SAN FRANCISCO (Reuters) - A civil court in Mexico entered a preliminary $2.7 billion judgment against Yahoo Inc for breach of contract involving a yellow pages listings service, Yahoo said on Friday. Yahoo said that it believes the claims are without merit and that it will vigorously pursue all appeals. Shares of Yahoo were off 1.7 percent at $18.45 in afterhours trading on Friday. The lawsuit was brought by Worldwide Directories S.A. de C.V. and Ideas Interactivas S.A. de C.V. against Yahoo and Yahoo de Mexico, Yahoo said. "The plaintiffs alleged claims of breach of contract, breach of promise, and lost profits arising from contracts related to a yellow pages listings service," Yahoo said in a statement on Friday. Yahoo said the ruling was a "non-final judgment" by the 49th Civil Court of the Federal District of Mexico City. It was not immediately clear when the lawsuit was filed against Yahoo. Yahoo's most recent 10Q filing, which lists major ongoing litigation, makes no mention of the lawsuit. Worldwide Directories and Ideas Interactivas could not immediately be reached for comment. Documents from local courts in Mexico are not available for public consultation. (Reporting By Alexei Oreskovic; Editing by David Gregorio) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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