DXC Collects $213.56 Million in Landmark IP Theft Case From TCS

Regulation

โดย PR Newswire·Read original

Summary · why it matters

DXC Technology has collected $213,560,494.98 from Tata Consultancy Services in a landmark trade secrets case. The Supreme Court declined to disturb lower court rulings that included a $168 million damages award, which with accumulated interest resulted in the final collection amount. The U.S. Court of Appeals for the Fifth Circuit had previously upheld findings that TCS willfully and maliciously misappropriated trade secrets of DXC subsidiary Computer Sciences Corporation. DXC President and CEO Raul Fernandez stated that trust is the foundation of every business relationship and expressed disappointment that a global company like TCS was caught willfully misappropriating a U.S. company's trade secrets.

DXC Technology Co ▲

Impact on stocks 1

Cloud & Digital Infrastructure▲ · 1 stocks

DXC Technology Co

▲ PositiveRegulationrelevance

DXC won $213.56M in a trade secrets case against TCS, with Supreme Court upholding the award.

Off-coverage companies 2

Tata Consultancy Services LimitedPrivate▼ Negative

Regulationrelevance

TCS was ordered to pay $213.56M for willful misappropriation of DXC's trade secrets.

Computer Sciences CorporationPrivate▲ Positive

Regulationrelevance

Computer Sciences Corporation is the subsidiary whose trade secrets were misappropriated, benefiting from the ruling.