NEW DELHI: United States Supreme Court docket has rejected Tata Consultancy Companies attraction towards a USD 140 million punitive damages order handed by a district courtroom, the corporate mentioned on Tuesday. The District Court docket of Wisconsin has awarded USD 140 million damages in favour of Epic Techniques Company which alleged that TCS infringed its mental property for the event of hospital administration system ‘Med Mantra’ which was carried out for a big hospital chain in India in 2009.
“…within the EPIC Techniques Company matter, america Supreme Court docket on November 20, 2023, rejected the Firm’s petition to file an attraction towards the orders handed by the US Court docket of Appeals, seventh Circuit, which confirmed the punitive damages award of USD 140 million handed by the District Court docket of Wisconsin,” TCS mentioned in a regulatory submitting.
Epic had alleged that TCS misused paperwork downloaded from Epic System’s user-web portal.
TCS mentioned that following the US Supreme Court docket order, the corporate intends to make the steadiness provision of roughly USD 125 million in its monetary statements as an distinctive merchandise, for the third quarter and 9 months ending December 31, 2023.
TCS shares closed 0.26 per cent decrease at Rs 3,510.30 on BSE.
“…within the EPIC Techniques Company matter, america Supreme Court docket on November 20, 2023, rejected the Firm’s petition to file an attraction towards the orders handed by the US Court docket of Appeals, seventh Circuit, which confirmed the punitive damages award of USD 140 million handed by the District Court docket of Wisconsin,” TCS mentioned in a regulatory submitting.
Epic had alleged that TCS misused paperwork downloaded from Epic System’s user-web portal.
TCS mentioned that following the US Supreme Court docket order, the corporate intends to make the steadiness provision of roughly USD 125 million in its monetary statements as an distinctive merchandise, for the third quarter and 9 months ending December 31, 2023.
TCS shares closed 0.26 per cent decrease at Rs 3,510.30 on BSE.
