Houston property management firm hit with $62 million judgment

A Sherman federal judge on Thursday awarded Plano-based property management software company ResMan $62.5 million and permanently barred courtroom opponents of ResMan, Karya Property Management and Expedien, from based in Houston, to access and use ResMan’s confidential information.

The final judgment follows a jury trial this spring that found that Karya and Expedien improperly accessed ResMan’s confidential software to develop a competing product. The jury of five women and three men awarded ResMan $152 million. U.S. District Judge Amos Mazzant’s $62.5 million award reflects what is allowed by law.

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

“ResMan is very pleased with the final judgment and permanent injunction,” Maria Wyckoff Boyce, partner of Hogan Lovells and lead counsel for ResMan, said in a statement.

In a statement, Swapnil Agarwal, managing director of Karya Property Management and its sister company, Nitya Capital, said only that the companies’ plans would not be affected by the judgment. Nitya was not involved in the ResMan lawsuit.

“Nitya is closing deals worth $650 million over the next 45 days,” he said, adding that the company is expanding into Orlando, Florida with the purchase of 1,600 apartments and in Dallas with the purchase of 2,500 units. .

RA Schuetz contributed to this report.

A longer version of this story is available at TexasLawbook.net.