Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Yahoo Faces Lawsuit

Details

  • Description

    FBN's Shibani Joshi on the billions at dollars at stake for Yahoo in a Mexican court lawsuit.

  • Duration 1:48
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Beyond the main -- in hot water south of the border of Internet giant facing a lawsuit in a Mexican court.

It could wind up costing billions of dollars never did Shibani Joshi in the newsroom with the details on that your -- Never -- good -- at all Connell the emphasis on the B billions of dollars at stake for the already struggling.

Internet company as a Mexican court levied a fine -- on the Sunnyvale California company.

Here is what they -- here is what it could amount to two point seven billion dollars and I Democrat in the company's latest 10-Q filing.

Did some math that is approximately 35%.

Of the company's cash balances as a lit as of the latest 10-Q filing.

Here's exactly what happened the ruling alleged that Yahoo! -- -- 2003 contract.

Have with the company who lost profits related to a yellow pages listing company agreement by the way this company no longer exist.

JP morning Morgan analyst Doug and less.

Found the the ruling to be material for shareholders and issued note to investors saying the following quote.

It's not clear how the Mexican court arrived at the two point seven billion dollar figure but we believe shares could trade off modestly on the news.

This selloff is being -- staved off at least for today be take a look at how Yahoo! shares are trading today there actually trading higher about one point 78%.

As it is largely expected in widely expected -- Yahoo! will appeal the decision so.

At investors I guess hanging on a bit longer onto the stock which has seen a nice pop of about 20% because.

Some recent share buyback.

Announcements and of course the hiring Marisa Mayer so people waiting -- a little bit longer.

I think he's -- we have some my.

Load More