Fifth Circuit Sides With SCA Promotions in Contract Dispute With Yahoo over Basketball Bracket Contest

The 5th U.S. Circuit Court of Appeals has reversed the finding of a district court and ruled that Yahoo! owes SCA Promotions $5.5 million as part of a cancellation fee spelled out in a contract when it cancelled plans to stage a “perfect bracket contest” in connection with the 2014 NCAA Men's Basketball Tournament.   In so ruling, the court noted that the terms of the contract were “unambiguous,” and were prevailing even though SCA had not finalized coverage with an underwriter for