TCS found liable for misappropriation of trade secret
Tata Consultancy Services has received an adverse judgement passed by United States District Court, Northern District of Texas, Dallas Division.Under the terms of the Court orders, the Company is liable for misappropriation of trade secret under the Defend Trade Secrets Act of 2016 (DTSA)
In a suit filed by Computer Sciences Corporation (CSC)/DXC Technology Company (DXC) against the Company, alleging misappropriation of its trade secrets:
The Court ordered that the Company is liable to CSC for USD 56,151,583 in compensatory damages and USD 112,303,166 in exemplary damages.
The Court also assessed that the Company is liable for USD 25,773,576.60 in prejudgment interest through 13 June 2024.
The Court also passed certain injunctions and other reliefs against the Company.
The Company believes that it has strong arguments in the matter and intend to defend its position through review petition/appeal to the appropriate Court.
The Company believes that the Judgement has no major adverse impact on its financials and operations.
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