HOUSTON, March 26, 2021 /PRNewswire/ — Karya Property Management LLC, a privately held full-service multifamily management company, today commented on a verdict in the matter of ResMan, LLC vs. Karya Property Management, LLC and Scarlet InfoTech, Inc., operating under the name Expedien, Inc. The trial took place in the United States District Court, Eastern District of Texas, Sherman Division.
"We respectfully disagree with the jury’s verdict, which is inconsistent with the factual record established at trial. Not only did Karya never even possess ResMan’s source code, but it also did not launch a competing product, take customers or otherwise damage ResMan’s business. Karya is currently considering all of its options, including an appeal."
"Over and above our own concerns, we believe this case sets a dangerous economic precedent if allowed to stand. Litigation should not be used to stifle innovation and competition, and punishing companies who have not accessed a competitor’s code, launched a competing product or damaged a competitor threatens to deter other technology companies from doing business in the State of Texas. We remain confident in the judicial process to remedy this misguided outcome."
About Karya Property Management
Karya Management is based in Houston, Texas and is a privately held full-service multifamily management company that focuses on providing exceptional management services to apartment communities. Since inception, Karya has grown its portfolio to over 20,000 units throughout the Houston, Dallas, San Antonio, Austin, Salt Lake City, Las Vegas, and Kansas City area, successfully managing all properties in the value chain ranging from deep value-add deals with a significant rehab component to stabilized properties.
Deepika Verma Agarwal
SOURCE Karya Property Management