Tata Consultancy Services to Book $70 Million Exceptional Expense in Fiscal Q1 in DXC Trade Secrets Case

MT Newswires Live

Jun 16

Tata Consultancy Services (NSE:TCS, BOM:532540) said it will recognize an additional $70 million as a one-time exceptional expense in Q1 FY27 toward damages, interest and legal costs related to its ongoing dispute with DXC Technology.

The company said it has already provided $150 million in its books for the matter in line with applicable accounting standards.

The U.S. Supreme Court on Monday rejected Tata Consultancy's petition seeking review of a lower court ruling in a trade secrets dispute with DXC Technology.

The case stems from a 2019 lawsuit filed by DXC's predecessor Computer Sciences Corp, which alleged misuse of proprietary life-insurance software to build a competing platform. A jury in 2023 had recommended $210 million in damages, later reduced to $168 million by a U.S. court.

Tata Consultancy shares rose nearly 2% in recent trade.

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A jury in 2023 had recommended $210 million in damages, later reduced to $168 million by a U.S. court.</p><p>Tata Consultancy shares rose nearly 2% in recent trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2643275354","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2643275354","pubTimestamp":1781603644,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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