Following an action by Worldwide Directories SA de CV and Ideas Interactivas SA de CV, a Mexican Court has ordered Yahoo! Inc and Yahoo! de Mexico to pay a massive $2.7bn (£1.68bn) in fines.
It is understood that the claims relate to a yellow pages listing service with Yahoo! facing claims of alleged breach of contract, breach of promise, and lost profits.
In a statement posted on its website yesterday Yahoo! has however denied liability stating that "Yahoo! believes the plaintiffs' claims are without merit and will vigorously pursue all appeals."
The full Yahoo! statement can be viewed online here.
