InnerWorkings Launches Suit Against Yahoo
CHICAGO—Printing services broker InnerWorkings has filed suit against Yahoo Inc., claiming the online giant's Yahoo Finance understated earnings and revenue information about the company since at least last March, according to Chicago Business. InnerWorkings claims the inaccurate information has been detrimental to its stock price.
The complaint, filed in Cook County Circuit Court, says that Yahoo Finance reported InnerWorkings' 2010 revenue was $419, but the firm contends the real amount was $489 million. Yahoo Finance's calculation of InnerWorking's EBITDA was allegedly $5 million less than the actual figure.
InnerWorkings is asking the court to force Yahoo Finance to cease publishing what it terms "the false and defamatory statements," correct the information and publicly apologize, according to Chicago Business.