Karya Announces Settlement of Trade Secrets Litigation With ResMan
HOUSTON, Aug. 25, 2021 /PRNewswire/ — KPM Property Management, LLC, formerly known as Karya Property Management, LLC, (“Karya”) today announced a settlement of the trade secrets lawsuit brought against it by ResMan, LLC (“ResMan”). Under the terms of the confidential settlement agreement, all claims for monetary damages against Karya have been resolved, the Court’s permanent injunction regarding the software at issue in the litigation remains in place, and the parties have exchanged broad mutual releases.
Swapnil Agarwal, CEO and Managing Partner of Karya, stated “We are pleased to put this litigation behind us so we can focus exclusively on what we do best–providing exceptional property management services to our apartment communities and improving the quality of life of our residents.”
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 its inception, Karya has grown its portfolio to over 15,000 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.