InvestorQ : Has TCS been found guilty by the US courts in the Epic Systems case?
Dhwani Mehta made post

Has TCS been found guilty by the US courts in the Epic Systems case?

Answer
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Dawn Cherian answered.
1 month ago


A US Appeals Court upheld the compensatory damages sought by Epic Systems from TCS for inappropriate use of intellectual property belonging to Epic Systems. However, the punitive damage of $280 million was reassessed lower by the court at $140 million.

The lawsuit dates back to 2014. In 2016, a jury found TCS guilty and awarded Epic Systems $940 million. This was later brought down by a Wisconsin Court to $420 million. Epic’s allegation was that TCS employees had taken more than 6000 documents of Epic Systems by creating fake user accounts.

Eventually, the damage has been reduced from $940 million down to $140 million and it is not clear if TCS will still go for appeal. Back in 2016, TCS had been pulled up by SEBI for not making adequate disclosure of the contingent liability.