Atos: favourable court ruling in US
(CercleFinance.com) - Atos has announced that the US Court of Appeals has reversed a lower court ruling that held Syntel, now part of Atos, liable for $570m in damages, to be paid to TriZetto.
The case, which began in 2015 before the French IT group acquired Syntel in 2018, involved alleged misappropriation of trade secrets and copyright infringement.
In its decision, the Court of Appeal found that the use of the calculation methodology adopted was contrary to law and remitted the case back to the court of first instance to consider whether the payment is still appropriate and, if so, to define the amount.
Atos maintains its assessment of a maximum amount of damages legally available to TriZetto of approximately $8.5m. This favourable decision removes considerable uncertainty for Atos and its stakeholders, it said.
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