PATTERN, IF IT GETS REPEATED, SHOULD SET 2400 AS THE TARGET. SUPPORT IS AT 2239.
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Sub:_Update on EPIC matter
Pursuant to Reg. 30 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015, we hereby inform you that in the EPIC Systems Corporation matter, the US Court of Appeals, 7th Circuit, Chicago, returned a verdict on the appeal filed by TCS, reducing the damages award. The Court held that the punitive damages award of $280 million is constitutionally excessive and directed the Trial Court to reassess the punitive damages. The Court upheld the
compensatory damages award of $140 million.
Pursuant to Reg. 30 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015, we hereby inform you that in the EPIC Systems Corporation matter, the US Court of Appeals, 7th Circuit, Chicago, returned a verdict on the appeal filed by TCS, reducing the damages award. The Court held that the punitive damages award of $280 million is constitutionally excessive and directed the Trial Court to reassess the punitive damages. The Court upheld the
compensatory damages award of $140 million.