ATO Atos SE

US Court of Appeals issues a favorable decision for Atos in TriZetto litigation

US Court of Appeals issues a favorable decision for Atos in TriZetto litigation

 Initial judgment of $570m damages vacated  

Paris, FranceMay 26, 2023 On May 25, 2023, the United States Second Circuit Court of Appeals vacated a decision by the United States District Court for the Southern District of New York, as part of Syntel’s ongoing litigation with Cognizant and its subsidiary TriZetto, finding Syntel, now part of Atos, liable for damages due to Syntel’s alleged trade secret misappropriation and copyright infringement. The case began in 2015, before Syntel’s acquisition by Atos in 2018.

In its decision, the Second Circuit held that the use of the avoided development costs methodology, underlying the initial $570m damages, was contrary to the law. The Second Circuit remanded the case to the District Court for further consideration if any amount of damages are still appropriate.

Atos maintains its assessment, as previously communicated, that the maximum amount of damages legally available to TriZetto is approximately $8.5m.

This favorable decision considerably removes uncertainty for Atos and its stakeholders.

***

About Atos

Atos is a global leader in digital transformation with 110,000 employees and annual revenue of c. € 11 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

The is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Contacts

Investor relations: Thomas Guillois | | +33 (0)6 21 34 36 62

Media: Martin Bovo | | +33 (0)6 14 46 79 94

Attachment



EN
26/05/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Atos SE

Carole Braudeau
  • Carole Braudeau

Credit Morning 05/26/2023

Casino : initiation of a conciliation procedure and agreement with Les Mousquetaires Atos: a US appeal court asks to reconsider the compensation claimed by TriZetto French retail sales slide in April Axa, Allianz, Matmut and Scor announced their departure from the NZIA>...

 PRESS RELEASE

US Court of Appeals issues a favorable decision for Atos in TriZetto l...

US Court of Appeals issues a favorable decision for Atos in TriZetto litigation  Initial judgment of $570m damages vacated   Paris, France – May 26, 2023 – On May 25, 2023, the United States Second Circuit Court of Appeals vacated a decision by the United States District Court for the Southern District of New York, as part of Syntel’s ongoing litigation with Cognizant and its subsidiary TriZetto, finding Syntel, now part of Atos, liable for damages due to Syntel’s alleged trade secret misappropriation and copyright infringement. The case began in 2015, before Syntel’s acquisition by Atos i...

 PRESS RELEASE

La Cour d'appel des États-Unis rend une décision favorable à Atos dans...

La Cour d'appel des États-Unis rend une décision favorable à Atos dans le litige TriZetto Le jugement initial de 570 millions de dollars de dommages et intérêts est annulé Paris, France - 26 mai 2023 - Le 25 mai 2023, la Cour d’appel des Etats-Unis a annulé une décision de première instance rendue pour le district Sud de New York, dans le cadre du litige en cours entre Syntel et TriZetto, filiale de Cognizant. Celle-ci jugeait Syntel, qui fait désormais partie d'Atos, responsable de 570 millions de dollars de dommages et intérêts en raison de l'appropriation illicite de secrets commerciaux...

 PRESS RELEASE

Evolution of the Atos Board of Directors and convening of the 2023 Ann...

Evolution of the Atos Board of Directors and convening of the 2023 Annual General Meeting Press Release Evolution of the Atos Board of Directors and convening of the 2023 Annual General Meeting Further strengthening the diversity of skills within the Board of Directors to support the Group's strategic plan and separation project Paris, France - May 17, 2023 - The Atos Board of Directors, upon the recommendation of the Nomination and Governance Committee chaired by Elizabeth Tinkham, has approved the following changes to its composition, in line with the needs identified and...

 PRESS RELEASE

Evolution de la composition du Conseil d’Administration d’Atos et conv...

Evolution de la composition du Conseil d’Administration d’Atos et convocation de l’Assemblée Générale Annuelle 2023 Communiqué de presse Evolution de la composition du Conseil d’Administration d’Atos et convocation de l’Assemblée Générale Annuelle 2023 Renforcement de la diversité des compétences du Conseil d’Administration afin d’accompagner le plan stratégique et le projet de séparation du Groupe Paris, France – le 17 mai 2023 - Le Conseil d’Administration d’Atos, sur recommandation du Comité des Nominations et de Gouvernance présidé par Elizabeth Tinkham, a approuvé les ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch