Atos: US District Court Reduces Damages to $570 Million in Syntel-TriZetto Case

By Olivia Bugault

French IT company Atos said Wednesday that a U.S. district court has reduced the damages that its subsidiary Syntel was asked to pay from a previous verdict to $570 million from $855 million, as part of a continuing litigation with Cognizant Technology Solutions Corp.

Last October, Syntel--a provider of integrated technology and business services, which acquired by Atos in 2018--was found liable of trade secret misappropriation and copyright infringement by a U.S. district court jury that specified damages in favor of Cognizant and its healthcare subsidiary TriZetto of roughly $855 million.

As well as lowering the amount of damages to be paid by Syntel, the United States District Court for the Southern District of New York also rejected Cognizant and TriZetto's request for an extra $75 million in prejudgment interest in a decision that was released Tuesday, Atos said.

Despite a reduction in damages to be paid, Atos said it plans to appeal the verdict. "Among other concerns, Atos continues to consider the amount of damages grossly out of proportion to the acts complained of, and that the maximum amount of damages legally available to TriZetto in this case is approximately $8.5 million," the company said.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

April 21, 2021 03:28 ET (07:28 GMT)

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