Mexican Court Hits Yahoo! With $2.7 Billion Judgment

A civil court in Mexico has handed down a preliminary $2.7 billion judgment against Yahoo! (Nasdaq: YHOO  ) and its local subsidiary in a lawsuit, the company reported in a press release. The lawsuit was filed by two Mexican companies, Worldwide Directories and Ideas Interactivas, which accuse the American Internet company of breach of contract, breach of promise, and lost profits related to a deal on a Yellow Pages listing service.

Yahoo! said in its brief press release that it believes the claims of the plaintiffs are "without merit" and that the company will "vigorously pursue all appeals."

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