US Court Orders TCS To Pay $194 Million For Trade Secrets Violation
TCS has said that it possesses robust arguments against the judgment and is actively pursuing measures to safeguard its interests, including potential review or appeal.
A US court has found Tata Consultancy Services Ltd. liable for trade secret misappropriation, imposing penal charges of approximately $194 million on the IT giant, according to a regulatory filing on Friday.
TCS has said that it possesses robust arguments against the judgment and is actively pursuing measures to safeguard its interests, including potential review or appeal.
The order has been passed against the company in a case filed by Computer Sciences Corp.—now merged with DXC Technology Co.—alleging misappropriation of its trade secrets before the United States District Court, Northern District of Texas, Dallas Division.
"The court ordered that the company is liable to CSC for $56,151,583 in compensatory damages and $112,303,166 in exemplary damages. The court also assessed that the company is liable for $25,773,576.60 in prejudgment interest through June 13, 2024," the IT major said in the filing.
The court also passed certain injunctions and other reliefs against TCS, it added.
"The company believes that the Judgement has no major adverse impact on its financials and operations," the filing said.
(With inputs from PTI)
