US court orders TCS to pay $194 million for trade secrets misappropriation

India’s largest IT services exporter, Tata Consultancy Services (TCS), announced on Friday that it has received an adverse judgment from the United States District Court, Northern District of Texas, Dallas Division to pay a $194 million penalty.

In a stock exchange filing, the company said, “…we hereby inform you that the company has received an adverse judgement passed by United States District Court, Northern District of Texas, Dallas Division, details of which are provided in Annexure A. The company believes that it has strong arguments in the matter and intend to defend its position through review petition/appeal to the appropriate court.”