Yahoo is in some hot water. According to the Huffington Post, the 49th Civil Court of the Federal District of Mexico City has entered a non-final judgment of $2.7 billion judgment on Friday against Yahoo, Inc. for a breach of contract, breach of promise, and lost profits as it relates to a yellow pages listings service, As expected, Yahoo is claiming that the charges are "without merit" and they plan on pursuing all possible appeals.
In an effort to produce something reminiscent of a book form business directory which would include maps, landmark listings and a catalogue of offers and discounts, Yahoo partnered with Worldwide Directories S.A. de C.V. and Ideas Interactivas, S.A. de C.V. Eventually, things went sour and the company is facing a judgment that is, according to an analyst from Bloomberg News, "probably greater than the total revenue ever generated by Mexican Internet advertisingâ€”and unlikely to stand."
Yahoo would sure like that to be true.
[via Huffington Post]