Atos: Syntel ordered to pay heavy damages
(CercleFinance.com) - Atos says a jury in a US court in the Southern District of New York on Tuesday found its subsidiary Syntel liable for liable for trade secret misappropriation and copyright infringement in a case that preceded its acquisition in 2018.
The jury specified an amount of damages owed to Cognizant and its subsidiary TriZetto representing approximately 855 million dollars. Atos has already filed a motion challenging the validity of TriZetto's allegations, and will file a further motion to overturn the verdict.
If these motions were denied, Atos will have the right to appeal. It considers the jury's verdict to be unjustified and furthermore considers
the amount of damages grossly out of proportion to the acts complained of
Whatever it says, the market doesn't like this - the Atos share is down 6% in early trading on Wednesday.
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