Guangdong court rejects Qihoo's suit
By Ding Yining |
March 29, 2013, Friday
|
Print Edition
Print Edition
QIHOO 360's lawsuit seeking compensation from Tencent for excluding competitors from the market was rejected by the Guangdong Province Higher People's Court yesterday.
Qihoo 360 had demanded 150 million yuan (US$23.8 million) in compensation and a public apology from Tencent for blocking business rivals from taking the market. But the court set aside the application and ordered Qihoo to pay 790,000 yuan in legal costs.
Qihoo said yesterday it would study the verdict before deciding whether it would appeal to the Supreme People's Court. The Beijing-based company launched the lawsuit at the beginning of last year.
At around the same time Tencent, China's largest Internet company, counter-sued Qihoo, seeking 125 million yuan in compensation.
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