US Supreme Court Rejects TCS Appeal in CSC/DXC Case; Company Takes Additional $70 Million Hit:

TCS will take an extra $70 million charge after the U.S. Supreme Court rejected its appeal in the CSC/DXC case.
SC Rejects Appeal in Long-Running US Dispute

US Supreme Court Rejects TCS Appeal in CSC/DXC Case; Company Takes Additional $70 Million Hit
Tata Consultancy Services (TCS) has informed stock exchanges that the U.S. Supreme Court has declined to hear its appeal in a long-running legal dispute with Computer Sciences Corporation (CSC)/DXC Technology.
The decision means that the earlier judgement of the United States Court of Appeals for the Fifth Circuit will remain in force. TCS had made a provision of $150 million in its books for the case liabilities. The latest development will require an additional provision of $70 million for damages, interest and legal expenses.
TCS made the disclosure to the NSE and the BSE under SEBI’s listing and disclosure requirements.
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Vanshika verma
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Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
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