$420 Million Penalty to TCS for IP Theft

$420 Million Penalty to TCS for IP Theft

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IT major Tata Consultancy Services (TCS) said a US court has more than divided the compensatory and reformatory harms requested from the organization to $420 million in a lawsuit filed by Epic Systems Corporation.

Partially granting TCS motion, the court essentially reduced the compensatory and punitive damages of $940 million granted by the July decision in April 2016, to $420 million,” Mumbai-headquartered TCS said in an administrative recording issued on Oct 8 2017.

“The organization did not abuse or get any advantage from Epic’s documents and plans to shield its position vigorously before the trail judge as well as in appeal,” TCS said in its filing.

A US grand jury order had slapped two Tata group organizations — TCS and Tata America International Corp — with a $940 million fine in a prized formula claim recorded against them by Epic in April 2016, the PTI report said.

 

penalty to tcs

In a claim recorded in October 2014 at the US District Court in Madison, Epic had charged TCS and Tata America International Corp of “audaciously taking competitive innovations, classified data, reports and information” having a place with Epic. The claim was additionally corrected in January and December 2015.

The Wisconsin court in April 2016 had guided the two Tata amass organizations to pay $240 million to Epic Systems for purportedly ripping off its software, other than $700 million as reformatory harms.

The report cited TCS as saying that it has gotten a legitimate guidance that the order and reduced damages awarded are not supported by evidence presented during the trial and a strong appeal can be made to the superior court to fully set aside the jury verdict.

A opinion and order has been issued by the Western District Court of Wisconsin in the suit documented by Epic against the organization, the report said. TCS said the order won’t have any effect on second quarter financial results expected on October 12.

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