MUMBAI, April 16, 2016: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it had received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin.
It is expected that the trial judgment will be entered in the case in the next six to eight weeks, following which the parties can file an appeal within 30 days after the judgment is filed.
While TCS respects the legal process, the jury’s verdict on liability and damages was unexpected as the Company believes they are unsupported by the evidence presented during the trial.
The Company did not misuse or derive any benefit from downloaded documents from Epic System’s user-web portal. TCS plans to defend its position vigorously in appeals to higher courts. TCS appreciates the trial judge’s announcement from the bench that he is almost certain he will reduce the damages award.
TCS did not misuse or benefit from any of the said information for development of its own hospital management system “Med Mantra’ which was implemented for a large hospital chain in India in 2009.
The Jury verdict will not have any impact on the TCS Q4 and FY16 financial results to be announced on Monday 18 April.
As an organization, TCS remains committed to protecting IP as well as its reputation and financial interests fully.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 344,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
For TCS global news, follow @TCS_News.
+91 22 6778 9999
+ 91 22 6778 9078 | +919833775853
+1 646 313 4594