America Movil Wins $900M Case Against Ex-Shareholders

Law360, New York (June 8, 2011, 6:03 PM EDT) -- Ex-shareholders of an Ecuadorean unit of telecommunications company America Movil SAB de CV are not entitled to $900 million in damages in a suit over the breakdown of a complicated acquisition deal, New York state's highest court said Tuesday.

The plaintiffs, large holding companies that sold their stake in an Ecuadorean phone company to America Movil for an amount they later claimed was too low, signed a release that bars them from pursuing a lawsuit against America Movil, the New York Court of Appeals said in...
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