TCS takes a $70m hit after US Supreme Court rejects its appeal
Tata Consultancy Services will book a one-time charge of $70m after the US Supreme Court declined to hear its appeal in a trade-secrets dispute, the Indian IT giant said. The court’s refusal, issued on 15 June, closes the last legal avenue in a case that has run since 2019 and leaves the lower-court judgment standing.
The dispute is with DXC Technology, and it is worth being precise about that, because TCS has fought more than one US trade-secrets case and the two are easily confused.
This one stems from a 2019 lawsuit filed by a DXC predecessor, Computer Sciences Corporation, which accused TCS of using inside access to build a rival life-insurance platform. By declining the appeal, the Supreme Court let a damages award against TCS stand.
The accounting follows from the legal defeat. TCS said total exposure in the case now rises to about $220m, covering damages, interest, and...
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