TCS Ordered to Pay $194 Million in Damages for Misappropriating Trade Secrets in US Court
Tata Consultancy Services (TCS) has been ordered to pay $194 million in damages by a US court for misappropriating trade secrets, according to a regulatory filing.
TcsTrade SecretsUs CourtComputer Sciences CorporationDxc Technology CompanyReal EstateJun 15, 2024
According to a regulatory filing, the court has ordered TCS to pay $56,151,583 in compensatory damages and $112,303,166 in exemplary damages. Additionally, the court has assessed TCS to pay $25,773,576.60 in prejudgment interest through June 13, 2024.
TCS, however, has expressed strong arguments against the judgment and is taking necessary steps to protect its interests through review or appeal. The company believes that the judgment will not have a major adverse impact on its financials and operations.
The case was filed against TCS before the United States District Court, Northern District of Texas, Dallas Division, alleging misappropriation of CSC's trade secrets. The court has also passed certain injunctions and other reliefs against TCS.
Information
TCS is an Indian multinational information technology service and consulting company headquartered in Mumbai, India. It is one of the largest IT companies in the world and provides a range of services including IT consulting, business process outsourcing, and engineering and industrial services.
Computer Sciences Corporation (CSC) is a former American multinational corporation that provided information technology services and professional services. In 2017, CSC merged with the Enterprise Services division of Hewlett Packard Enterprise to form DXC Technology Company.
DXC Technology Company is a global provider of IT services and solutions, headquartered in Tysons, Virginia, USA. The company was formed in 2017 as a result of the merger between CSC and the Enterprise Services division of Hewlett Packard Enterprise.
Frequently Asked Questions
How much has TCS been ordered to pay in damages?
$194 million
Who filed the case against TCS?
Computer Sciences Corporation (CSC)
What is the allegation against TCS?
Misappropriation of trade secrets
What is the name of the court that passed the judgment?
United States District Court, Northern District of Texas, Dallas Division
What is the impact of the judgment on TCS' financials and operations?
The company believes that the judgment will not have a major adverse impact on its financials and operations.
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