The initial ruling from a 2011 lawsuit filed in the 49th District Court of Mexico by Mexican-based World Wide Directories and Ideas Interactivas against Yahoo! (NASDAQ: YHOO) and Yahoo! Mexico, has been overturned, according to a recent Yahoo! press release.
Yahoo! appealed the first court's ruling made in mid-December of 2012, in which Yahoo! and Yahoo! Mexico were to pay a $2.75 billion judgment. Yahoo! summarily appealed the decision to the Superior Court Justice for the Federal District Court of Mexico, who overturned the lower court's ruling. The appellate decision removed all judgments levied against Yahoo!, and reduced Yahoo! Mexico's judgment to $172,500.
The plaintiffs, World Wide Directories and Ideas Interactivas, have a right of appeal should they decide to exercise it.
