Mexican Court Reverses $2.75 Billion Ruling Against Yahoo

Yahoo just breathed a sigh of relief; or 2.75 billion sighs of relief, if you will. The Superior Court of Justice for the Federal District in Mexico granted the company’s appeal, and reversed a ruling of the 49th Civil Court of Mexico. The court had entered a non-final judgment of $2.75 billion against Yahoo and Yahoo ¬†Mexico on November 28, 2012.

The appellate decision overturned all monetary awards against Yahoo, and reduced the monetary award against Yahoo Mexico to $172,500. Yahoo Mexico was awarded $2.6 million in the original judgment, and this award was confirmed by the appellate decision.

The lawsuit against Yahoo was filed by World Wide Directories, and Ideas Interactivas, against Yahoo Mexico and Yahoo in 2011. Yahoo Mexico and Yahoo appealed the judgment to a three-magistrate panel of the Superior Court of Justice for the Federal District in December last year.

Yahoo’s victory may however be shortlived. The plaintiffs may appeal this decision, and the lawsuit can drag on.

Upload: 05-20-13

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