First Amendment Doesn't Preemptively Protect Companies Beyond U.S. Borders. Law.com reports in "On Appeal, Anti-Nazi Groups Topple Yahoo." From the article:

"Yahoo obtains commercial advantage from the fact that users located in France are able to access its Web site … Yahoo cannot expect both to benefit from the fact that its content may be viewed around the world and to be shielded from the resulting costs," Ferguson wrote for the majority. "If Yahoo violates the speech laws of another nation, it must wait for the foreign litigants to come to the United States to enforce the judgment before its First Amendment claim may be heard by a U.S. court."

The AP has this report, and Reuters has this report.