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[BBC] Yahoo 'ordered to pay $2.7bn' by Mexican court

post #1 of 29
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Quote:
Originally Posted by BBC .co .uk 
Internet group Yahoo says it has been ordered to pay $2.7bn (£1.68bn) by a Mexican court.

The reported ruling follows a lawsuit stemming from allegations of breach of contract and lost profits related to a yellow pages listing service.

Yahoo said it "believes the plaintiffs' claims are without merit and will vigorously pursue all appeals".

The lawsuit had been brought by Worldwide Directories SA de CV and Ideas Interactivas SA de CV.

In a statement on its website Yahoo said the 49th Civil Court of the Federal District of Mexico City had "entered a non-final judgment of US $2.7 billion against Yahoo! Inc. and Yahoo de Mexico" in the case.

Shares in Yahoo, which is based in Sunnyvale, California, fell by 1.4% in after-the-bell trading following the news.

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post #2 of 29
Does yahoo even have $2.7bn in its back pocket?
Edited by darkstar585 - 12/1/12 at 10:02am
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post #3 of 29
Hahahah, Mexican government aka Mexican Cartel is trying to hold Yahoo hostage.rolleyes.gif
post #4 of 29
Shares in Yahoo fell by 1.4% following the news. rolleyes.gif
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post #5 of 29
The real question here is if the Mexican yellow pages had $2.7 billion in potential profit and capital to lose. Somehow I doubt it.
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post #6 of 29
Yahoo better not go out of business, my main e-mail is with them, I have literally everything tied with it.
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post #7 of 29
That's a whole lotta Pasos, amigos!
 
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post #8 of 29
Quote:
Originally Posted by jellis142 View Post

Yahoo better not go out of business, my main e-mail is with them, I have literally everything tied with it.

Same... I also agree that there's no way there was 2.7 billion lost in yellow page revenue. Asinine number.
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post #9 of 29
Even in Mexico, the law requires them to prove damages. I'd love to see how they arrived at that $2.7B number. sneaky.gif
    
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post #10 of 29
Quote:
Originally Posted by jellis142 View Post

Yahoo better not go out of business, my main e-mail is with them, I have literally everything tied with it.

Time to make the switch to Gmail. It takes a lot of work as we had to do it with my wife and her business stuff, but she is a lot happier with the Gmail service.
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