NEW DELHI: United States Supreme Court has rejected Tata Consultancy Services appeal against a USD 140 million punitive damages order handed by a district court docket, the corporate stated on Tuesday. The District Court of Wisconsin has awarded USD 140 million damages in favour of Epic Systems Corporation 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.
“…in the EPIC Systems Corporation matter, the United States Supreme Court on November 20, 2023, rejected the Company’s petition to file an appeal against the orders passed by the US Court of Appeals, 7th Circuit, which confirmed the punitive damages award of USD 140 million passed by the District Court of Wisconsin,” TCS stated in a regulatory submitting.
Epic had alleged that TCS misused paperwork downloaded from Epic System’s user-web portal.
TCS stated that following the US Supreme Court order, the corporate intends to make the stability 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.
“…in the EPIC Systems Corporation matter, the United States Supreme Court on November 20, 2023, rejected the Company’s petition to file an appeal against the orders passed by the US Court of Appeals, 7th Circuit, which confirmed the punitive damages award of USD 140 million passed by the District Court of Wisconsin,” TCS stated in a regulatory submitting.
Epic had alleged that TCS misused paperwork downloaded from Epic System’s user-web portal.
TCS stated that following the US Supreme Court order, the corporate intends to make the stability 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.
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