The Mumbai-based firm said it remains committed to protecting IP as well as its reputation and financial interests fully.
A US grand jury has slapped two companies of India's Tata group -- TCS and Tata America International Corp -- with a USD 940 million fine in a trade secret lawsuit filed against them.
TCS said it had received a jury verdict of the recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin.
Apart from paying USD 240 million to Epic Systems, the Tata companies have also been asked to pay another USD 700 million in punitive damages.
TCS, however, said it "did not misuse or derive any benefit from downloaded documents from Epic System's user-web portal".
"TCS plans to defend its position vigorously in appeals to higher courts. TCS appreciates the trial judge's announcement from the bench that he is almost certain he will reduce the damages award," it added.
The verdict will not have any impact on the company's fourth quarter and FY2016 financial results that will be announced on April 18.
Epic Systems had accused TCS and Tata America International Corp, in a lawsuit filed in October, 2014 which was amended in January and December 2015, of "brazenly stealing the trade secrets, confidential information, documents and data" belonging to Epic.
Epic said that it "recently learned from an informant" that TCS employees have been "fraudulently accessing" Epic's software beyond what the consulting contract required - and using Epic's software to improve their own competing product.
One TCS employee's account, which was used in India and several US locations, downloaded 6,477 documents, according to Epic.
"Rather than compete lawfully with Epic, TCS has engaged in an apparently elaborate campaign of deception to steal documents, confidential information, trade secrets, and other information and data from Epic, for the purpose of realising technical expertise developed by Epic over years of hard work and investment," the lawsuit said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
