Tag Archives: Yahoo

SCA Promotions “Bounces Back”: Yahoo Owes Millions for Backing Out of NCAA Bracket Prize

Back in 2014, Yahoo promised college basketball fans a “Billon-Dollar Bracket,” which allowed anyone who could predict every winner in the 2014 NCAA men’s basketball tournament $1 billion dollars. To create this contest, Yahoo entered into an $11 million dollar contract with prize promoter SCA Promotions. Once the contract was finalized, SCA went looking to find insurance coverage for the grand prize. However, at the same time, Warren Buffet’s Berkshire Hathaway and Quicken Loans came up with their own $1 billion prize, and…

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Quick Fix: Judge Corrects Ruling and Orders Insurer to Repay $550,000 to Yahoo Over Cancelled NCAA Contest

On Thursday, March 24, 2016, a Texas federal judge ordered insurer SCA Promotions Inc. to repay $550,000 to Yahoo, adjusting a ruling in November entitling Yahoo Inc. to recover half of what it paid SCA under an agreement pertaining to an NCAA March Madness contest. It is unclear what the reason behind the correction was due to confidentiality agreements, which were also the subject of dispute earlier in the litigation. SCA originally brought a breach of contract suit against Yahoo after Yahoo cancelled an…

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Loose Lips Sink Ships: Yahoo Counter-Claims Against SCA Promotions For Allegedly Disclosing Confidential Information

On Tuesday, internet giant Yahoo Inc. asked a Texas federal judge to sanction insurer SCA Promotions Inc. and its attorneys for allegedly breaking confidentiality rules. Yahoo claims this violation occurred when SCA filed its motion for summary judgment and supporting documents in the publicly accessible online service known as PACER. Yahoo claims “In a blatant ploy to influence the jury pool, to resurrect a case with no basis and to garner some bizarrely needed but desperate notoriety, SCA has now violated the protective order governing…

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