Mexican court orders Yahoo to pay $2.7bn

Mexican court orders Yahoo to pay $2.7bn

PanARMENIAN.Net - Internet group Yahoo says it has been ordered to pay $2.7 billion by a Mexican court, according to BBC News.

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.

 Top stories
One game includes keeping soccer balls in the air, while another game makes the players virtually swim on the large screen.
The memorandum of understanding will allow for an exchange of technical information and non-operational data related to cybercrime.
Mozilla is setting Yandex as the default search engine in Russia, and the move opens up the firm to work with more local partners
The award of $23.6mln was a tenth of what the firm was claiming: $1 for every infringing device sold, which would have totaled $237mln.
Partner news