October 27, 2021

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Houston residence administration agency hit with $62 million judgment

1 min read

A federal choose in Sherman on Thursday awarded Plano-based assets administration software firm ResMan $62.5 million and permanently enjoined ResMan’s courtroom opponents, Houston-based mostly Karya Home Administration and Expedien, from accessing and utilizing ResMan’s private information.

The final judgment follows a jury trial this spring that observed Karya and Expedien improperly accessed ResMan’s confidential software program to establish a rival item. The five-female, 3-male jury awarded ResMan $152 million. U.S. District Judge Amos Mazzant’s $62.5 million award demonstrates what is permitted beneath the legislation.

The plaintiff is entitled to attorneys’ costs, and on Thursday ResMan’s attorneys asked the court to award $14.8 million in attorneys’ costs and other fees.

“ResMan is really delighted with the ultimate judgment and everlasting injunction,” Maria Wyckoff Boyce, a Hogan Lovells spouse and ResMan’s guide attorney, mentioned in a statement.

In a statement, Swapnil Agarwal, chief government of Karya Property Management and its sister corporation, Nitya Funds, reported only that options at the corporations would not be impacted by the judgment. Nitya was not concerned in the ResMan fit.

“Nitya is in the system of closing offers truly worth $650 million in the upcoming 45 days,” he reported, including that the corporation is growing in Orlando, Fla., with the acquire of 1,600 condominium models and in Dallas with the order of 2,500 units.

R.A. Schuetz contributed to this report.

A longer edition of this story is available at TexasLawbook.web.

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