Mexican Court Rules Yahoo To Pay $2.7 Billion Over Breach Of Contract

[engine]

Yahoo says it has been ordered to pay $2.7bn (£1.68bn) by a Mexican court.

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".

Mexican Court Rules Yahoo To Pay $2.7 Billion Over Breach Of Contract [bbc.co.uk]

[Sgt_Kickaxe]

I think lawyers need to find a new catch phrase besides "vigorously". Is there a link to the contract anywhere?

[Doc2626]

Maybe a new planet would be a better option, Sarge. ;)

[engine]

That figure of $2.7 Billion seems out of proportion, imho. ianal

[Doc2626]

It would seem that the Mexican courts are trying to make a point...

... perhaps pushing Yahoo to bail out of Mexico entirely?
... setting a precedent for "bigger fish"?
... setting the stage for someone else to pick up Yahoo's market share?

I live in Mexico, and while none of the above seem likely or logical, none would be out of character.

[Panthro]

Sure it's not 2.7bn pesos?

[Doc2626]

I'm sure Marissa wishes that were the case. Unfortunately, no.

[Sgt_Kickaxe]

Stock fell 1.4% after the news was released, that's about how worried investors are over "Yahoo de Mexico" and this "non-final" judgment.

[coachm]

We should open up a betting pool on whether Mexico will get the money, some money, or no money.

I'm betting none. You?

[Doc2626]

My guess: They'll appeal, then negotiate out of court for "an undisclosed amount"
Something in the range of 100MM is a lot more likely