TCS to take $70 million hit after US Supreme Court reject...
Reuters·2026-06-16·via Business News Today: Latest Business News, Finance News
SENSEX 76,600.15
+ 335.82
NIFTY 23,943.05
+ 89.15
CRUDEOIL 7,644.00
+ 26.00
GOLD 152,999.00
+ 83.00
SILVER 250,288.00
-1,170.00
SENSEX 76,600.15
+ 335.82
NIFTY 23,943.05
+ 89.15
NIFTY 23,943.05
+ 89.15
CRUDEOIL 7,644.00
+ 26.00
CRUDEOIL 7,644.00
+ 26.00
GOLD 152,999.00
+ 83.00
TCS, which had already set aside $150 million for the
case, said it will book a further $70 million towards damages,
interest and legal costs as a one-time exceptional charge
Updated - June 16, 2026 at 09:55 AM.
Tata Consultancy Services will
book a one-time exceptional charge of $70 million after the U.S.
Supreme Court rejected its appeal in a trade secrets case,
bringing its total exposure in the matter to $220 million, the
firm said on Monday.
Here are some more details:
The US Supreme Court on June 15 let stand a $168 million damages award in favour of DXC Technology.
TCS, which had already set aside $150 million for the
case, said it will book a further $70 million towards damages,
interest and legal costs as a one-time exceptional charge in the
first quarter of 2027.
The Indian firm's net profit in the fourth quarter stood
at ₹13,718 crores ($1.45 billion).
The case stems from a 2019 lawsuit filed in Dallas federal
court by DXC's predecessor, Computer Sciences Corporation, which
accused TCS of hiring around 2,200 Transamerica, another
insurance company, employees and using their inside access to
build a rival life-insurance platform.
Published on June 16, 2026
THIS AD SUPPORTS OUR JOURNALISM.
SUBSCRIBE
FOR MINIMAL ADS.
THIS AD SUPPORTS OUR JOURNALISM.
SUBSCRIBE
FOR MINIMAL ADS.
