SUNNYVALE, Calif.--(BUSINESS WIRE)--
Yahoo! Inc. (NASDAQ: YHOO) today announced that the Superior Court of
Justice for the Federal District in Mexico has granted the company's
appeal and reversed the ruling of the 49th Civil Court of Mexico, which
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!
Inc. 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 plaintiffs may
appeal this decision.
The appellate decision pertains to the lawsuit filed by World Wide
Directories, S.A. de C.V. and Ideas Interactivas, S.A. de C.V. against
Yahoo! Mexico and Yahoo Inc. in 2011. On December 12, 2012, and December
13, 2012, respectively, Yahoo! Mexico and Yahoo! Inc. appealed the
judgment to a three-magistrate panel of the Superior Court of Justice
for the Federal District.
Yahoo! is focused on making the world's daily habits inspiring and
entertaining. By creating highly personalized experiences for our users,
we keep people connected to what matters most to them, across devices
and around the world. In turn, we create value for advertisers by
connecting them with the audiences that build their businesses. Yahoo!
is headquartered in Sunnyvale, Calif., and has offices located
throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East
and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net)
or the company's blog (yodel.yahoo.com).
Sara Gorman, 408-349-4040
Source: Yahoo! Inc.
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