June 2, 2015
On Tuesday of last week, Yahoo! Inc. (“Yahoo”) submitted an updated answer in the ongoing legal proceeding surrounding its botched billion-dollar 2014 March Madness sweepstakes. Yahoo’s recent filing includes new fraud and fraudulent inducement counterclaims against SCA Promotions, Inc. (“SCA”), a prize promotion and risk management company that initiated the lawsuit early last year.
How did Yahoo’s sweepstakes promotion lead to so much legal trouble, and why is Warren Buffett involved?