Yahoo Hit With $2.7B Prelim. Judgment By Mexican Court

Law360, New York (November 30, 2012, 8:13 PM EST) -- A Mexico City court hit Yahoo Inc. and its Mexican unit with a $2.7 billion preliminary judgment in a breach of contract suit, Yahoo said in a statement Friday.

The suit was brought by Worldwide Directories SA de CV and Ideas Interactivas SA de CV and accused Yahoo and Yahoo de Mexico SA de CV of breach of contract, breach of promise and lost profits arising from contracts related to a yellow pages listings service, according to Yahoo.

The nonfinal judgment was made by the 49th...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.