Yahoo said on Thursday that a Mexican appellate court had thrown out a $2.75 billion ruling by a lower court against Yahoo and Yahoo Mexico in a contractual dispute with two Mexican firms. The Superior Court of Justice for the Federal District in Mexico has granted Yahoo's appeal and reversed the ruling of the 49th Civil Court of Mexico, which had entered a non-final judgment of $2.75 billion against Yahoo and Yahoo Mexico on November 28, 2012.

The appellate decision overturned all monetary awards against Yahoo and reduced the monetary award against Yahoo Mexico to $172,500. Yahoo Mexico was awarded $2.6 million in the original judgment, and this award was confirmed by the appellate decision. The plaintiffs may appeal this decision.

The appellate decision pertains to the lawsuit filed by World Wide Directories, S.A. de C.V. and Ideas Interactivas, S.A. de C.V. against Yahoo Mexico and Yahoo Inc. in 2011. On December 12, 2012, and December 13, 2012, respectively, Yahoo Mexico and Yahoo Inc. appealed the judgment to a three-magistrate panel of the Superior Court of Justice for the Federal District.