“We [TCS] You’re hereby knowledgeable that within the Epic Techniques Company case, the US District Courtroom for the Western District of Wisconsin handed an order decreasing the jury award of punitive damages to $140 million and directed the Clerk of Courtroom to file an amended judgment accordingly delivered,” TCS stated within the assertion.
Epic Techniques filed a lawsuit towards TCS in 2014, alleging that the IT providers firm had stolen its mental property. In 2016, Epic received a $940 million jury prize. In 2017, a Wisconsin courtroom decide lowered the quantity of the award to $420 million for complying with the cap on punitive damages in such instances. TCS had filed an enchantment within the Excessive Courtroom.
In August 2021, the US Courtroom of Appeals dominated that the $280 million (~Rs 2,098 crore) punitive damages award was ‘constitutionally extreme’, and lowered the damages to $140 million. In response to the corporate’s assertion, this resolution has now been formalized.
“TCS is legally suggested that it has robust arguments in its favor earlier than the Courtroom of Attraction and the (courtroom) order on punitive damages shouldn’t be supported by the details offered by TCS earlier than the trial courtroom. We’ve got been suggested that the order and resolution (when issued) is appealable on the US Courtroom of Appeals, seventh Circuit Chicago,” the TCS assertion stated on Monday.
The mental property theft lawsuit towards TCS dates again to 2014, when the US-based agency accused TCS staff of stealing 6,000 essential information containing info on its system growth by establishing a faux consumer account.
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TCS additional reiterated that it “didn’t abuse or make the most of Epic’s paperwork and plans to vigorously defend its place earlier than the Courtroom of Attraction”.
As a corporation, the corporate is dedicated to respecting and defending proprietary info in addition to its repute, learn Monday’s assertion.
TCS had made a provision of Rs 1,218 crore ($165 million) for this authorized declare in its monetary statements for the quarter and yr ended March 31, 2021.