A U.S. appeals court on Thursday vacated a $570 million award Cognizant Technology Solutions Corp had won against rival software provider Atos SE's Syntel Inc for theft of its trade secrets related to healthcare insurance software.The New York-based 2nd U.S. Circuit Court of Appeals said Cognizant was not
A U.S. appeals court on Thursday vacated a $570 million award Cognizant Technology Solutions Corp had won against rival software provider Atos SE's Syntel Inc for theft of its trade secrets related to healthcare insurance software.
A spokesperson for Teaneck, New Jersey-based Cognizant said the company was pleased with the liability ruling and is"evaluating its appeal options" for the damages decision.A Syntel unit first sued Cognizant and TriZetto in 2015, alleging Cognizant's acquisition of TriZetto resulted in a breach of Syntel's contract with TriZetto.
The 2nd Circuit affirmed Thursday that Syntel was liable for misappropriating more than 100 Cognizant trade secrets. But it took issue with the legal theory that had justified Cognizant's damages.
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