TCS falls on settlement of three-year old lawsuit with Orange County

NEW DELHI: Shares of IT behemoth Tata Consultancy Services ( TCS) fell over 1 per cent in late morning trade on Wednesday, a day after it settled its three-year-old lawsuit with US district Orange county for $26 million.

The litigation was over replacement to the county's automated property tax system that initially was to have been completed in 2010, but was not delivered. The county sued TCS in 2013.

ALSO READ: TCS settles Orange County lawsuit for $26 million

At 10:57 am, shares of the company were trading at Rs 2,576.15 apiece, down 1.04 per cent from its previous close on the Bombay Stock Exchange. The stock was worst performer in the Sensex pack after Lupin.