Court Reverses Yahoo Ruling, Brings Monetary Awards To $172,000 From Original $2.75 Billion

Posted on May 17 2013 - 3:19am by Editorial Staff

Yahoo-Android-App

A legal win day for Yahoo today as the company announced that the Superior Court of Justice for the Federal District in Mexico has granted the company’s appeal and reversed the ruling on bringing the monetary awards against Yahoo Mexico to $172,000 from original $2.75 billion, which was the original judgement. The today’s decision was confirmed by the appellate decision while the plaintiffs may appeal this decision.

At the time back in November 2012, when Yahoo was ordered to pay the $2.75 billion sum in a contract dispute by the 49th Civil Court of Mexico City, the company issued the following statement over the ruling, “Yahoo! believes the plaintiffs’ claims are without merit and will vigorously pursue all appeals. The plaintiffs alleged claims of breach of contract, breach of promise, and lost profits arising from contracts related to a yellow pages listings service.”

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.