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 Internet pioneer 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 Civil Court of the Federal District of Mexico City "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.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor