Economy

TCS gets reduced penalty of $420 mn in IP theft case

TCS gets reduced penalty of $420 mn in IP theft case”

The Tata Group company had then denied the charges and said it would appeal against the verdict in higher courts.

Tata Consultancy Services (TCS) was named the fourth most valuable IT services brand worldwide by Brand Finance, the world-leading brand valuation firm.

The matter relates to a USA grand jury order that slapped two Tata group companies-Tata Consultancy Services (TCS) and Tata America International Corp. -with a $940 million fine in a trade secret lawsuit filed against them by Epic in April 2016.

Last year, ET had reported that EPIC had asked the judge to reduce the $940 million award to $720 million.

In April 2016, the Western District Court of Wisconsin had imposed a fine of $940 million (around Rs 6,136 crore) on TCS in the lawsuit. The quantum of the jury award violated a Wisconsin law which prevents the award of punitive damages of more than twice the compensatory damages.

IT major Tata Consultancy Services (TCS), a division of Tata Sons, on Sunday said a United States court has more than halved the compensatory and punitive damages demanded from the company to $420 million in a lawsuit filed by Epic Systems Corporation, PTI reported.

Epic Systems was not immediately available for comment.

Epic's applications support functions related to patient care, including registration and scheduling; clinical systems for doctors, nurses, emergency personnel, and other care providers; systems for lab technologists, pharmacists, and radiologists; and billing systems for insurers. EPIC said TCS used the illegally acquired information to create its own healthcare system. TCS repeated its earlier stance that it "did not misuse or derive any benefit" from downloaded documents from the user web portal of Epic System.

"As an organisation TCS remains focused and committed to respecting and protecting proprietary information as well as its reputation", it said.



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