PowerPlan Agrees to Litigation Settlement with Lucasys
PowerPlan has announced the settlement of ongoing litigation with Lucasys that was pending in the United States District Court for the Northern District of Georgia. The settlement includes an after-tax payment of $17.7 million and releases all claims between parties, with no admission of liability or wrongdoing.
While PowerPlan strongly disputes the claims brought by Lucasys in 2020, the company views this settlement as an opportunity to eliminate litigation distractions. The resolution allows PowerPlan to focus on advancing its next-generation SaaS technology solutions, including its Tax Fixed Assets (TFA) cloud tax software and the upcoming Tax Provision SaaS solution, scheduled for launch in late 2025.
PowerPlan ha annunciato la risoluzione delle controversie in corso con Lucasys, che erano pendenti presso il Tribunale Distrettuale degli Stati Uniti per il Giudice Settentrionale della Georgia. L'accordo prevede un pagamento dopo le tasse di $17,7 milioni e libera tutte le rivendicazioni tra le parti, senza ammissione di responsabilità o illeciti.
Sebbene PowerPlan contesti fortemente le rivendicazioni sollevate da Lucasys nel 2020, l'azienda considera questo accordo come un'opportunità per eliminare le distrazioni legali. La risoluzione consente a PowerPlan di concentrarsi sull'avanzamento delle sue soluzioni tecnologiche SaaS di nuova generazione, inclusi i suoi software fiscali per Attivi Fissi Fiscali (TFA) e la prossima soluzione SaaS per la Provvista Fiscale, prevista per il lancio entro la fine del 2025.
PowerPlan ha anunciado la resolución de las litigaciones en curso con Lucasys, que estaban pendientes en el Tribunal de Distrito de los Estados Unidos para el Distrito Norte de Georgia. El acuerdo incluye un pago después de impuestos de $17.7 millones y libera todas las reclamaciones entre las partes, sin admisión de responsabilidad o irregularidad.
A pesar de que PowerPlan disputa firmemente las reclamaciones presentadas por Lucasys en 2020, la compañía considera este acuerdo como una oportunidad para eliminar las distracciones de litigio. La resolución permite a PowerPlan centrarse en el avance de sus soluciones tecnológicas SaaS de próxima generación, incluyendo su software fiscal en la nube Activos Fijos Fiscales (TFA) y la próxima solución SaaS para la Provisión Fiscal, programada para su lanzamiento a finales de 2025.
파워플랜은 조지아 북부 지역 연방 지방법원에서 진행 중인 루카시스와의 소송이 합의되었다고 발표했습니다. 이번 합의는 세후 1,770만 달러의 지급을 포함하며, 양 당사자 간의 모든 청구를 면제하고, 책임 또는 부정행위에 대한 인정이 없습니다.
파워플랜은 2020년 루카시스가 제기한 주장에 대해 강력하게 반대하지만, 이번 합의를 소송으로 인한 방해를 없앨 기회로 보고 있습니다. 이번 해결은 파워플랜이 차세대 SaaS 기술 솔루션을 발전시키는 데 집중할 수 있도록 하며, 여기에는 세금 고정 자산 (TFA) 클라우드 세금 소프트웨어와 2025년 말 출시 예정인 세금 충당 SaaS 솔루션이 포함됩니다.
PowerPlan a annoncé le règlement des litiges en cours avec Lucasys, qui étaient pendants devant le tribunal de district des États-Unis pour le district nord de la Géorgie. Le règlement comprend un paiement après impôts de 17,7 millions de dollars et libère toutes les réclamations entre les parties, sans admission de responsabilité ou de faute.
Bien que PowerPlan conteste fortement les réclamations déposées par Lucasys en 2020, la société considère ce règlement comme une opportunité d'éliminer les distractions liées aux litiges. La résolution permet à PowerPlan de se concentrer sur l'avancement de ses solutions technologiques SaaS de nouvelle génération, y compris son logiciel fiscal en nuage Actifs Fiscaux Fixes (TFA) et la prochaine solution SaaS pour la Provision Fiscale, prévue pour être lancée à la fin de 2025.
PowerPlan hat die Beilegung laufender Rechtsstreitigkeiten mit Lucasys bekannt gegeben, die vor dem US-Bezirksgericht für den Northern District of Georgia anhängig waren. Die Einigung umfasst eine nach Steuern zu zahlende Summe von $17,7 Millionen und entbindet alle Ansprüche zwischen den Parteien, ohne ein Eingeständnis von Haftung oder Fehlverhalten.
Obwohl PowerPlan die von Lucasys im Jahr 2020 erhobenen Ansprüche entschieden bestreitet, sieht das Unternehmen diese Einigung als eine Gelegenheit, Ablenkungen durch Rechtsstreitigkeiten zu beseitigen. Die Lösung ermöglicht es PowerPlan, sich auf die Weiterentwicklung seiner SaaS-Technologielösungen der nächsten Generation zu konzentrieren, einschließlich seiner Steuerlichen Festen Vermögenswerte (TFA) Cloud-Software und der bevorstehenden SaaS-Lösung für Steuerverpflichtungen, die für Ende 2025 geplant ist.
- Resolution of legal uncertainty through settlement
- Ability to refocus resources on core business development
- Planned launch of new Tax Provision SaaS solution in late 2025
- $17.7 million after-tax settlement payment impact on finances
Insights
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The resolution eliminates legal uncertainty and potential reputational risks, allowing PowerPlan to refocus on its core business and upcoming product launches. The settlement terms, specifically excluding admission of liability, protect PowerPlan's market position and intellectual property rights. This strategic move prevents prolonged litigation costs and maintains competitive advantages in the energy software sector.
The timing aligns with PowerPlan's product roadmap, particularly the planned Tax Provision SaaS solution launch. This positions the company to capitalize on the growing demand for cloud-based financial software solutions in asset-intensive industries, a key growth driver for Roper's portfolio.
PowerPlan's strategic pivot to SaaS solutions, particularly in tax management software, reflects the industry-wide shift toward cloud-based enterprise solutions. The Tax Fixed Assets (TFA) platform's market leadership in asset-intensive industries provides a strong foundation for the upcoming Tax Provision SaaS solution.
The settlement removes potential obstacles to product development and market expansion, important for maintaining competitive edge in the rapidly evolving financial software sector. PowerPlan's 30-year track record in innovative software development, combined with Roper's strong backing, positions it well against emerging competitors in the cloud-based financial solutions space.
ATLANTA, Jan. 02, 2025 (GLOBE NEWSWIRE) -- ATLANTA, January 2, 2025 – PowerPlan, Inc., a leading provider of financial software and solutions for the energy industry, announced that it has settled the outstanding litigation between PowerPlan and Lucasys, Inc. that was pending in the United States District Court for the Northern District of Georgia.
Though PowerPlan vigorously contests the baseless claims brought by Lucasys in 2020, it is pleased to eliminate the distraction and uncertainty of litigation. This development enables PowerPlan to fully focus on the continued success of its next generation SaaS technology solutions, including Tax Fixed Assets (TFA) - the market leading cloud tax software for asset intensive industries - and prepare for the launch of its monthly Tax Provision SaaS solution (expected late 2025), while continually innovating and advancing cloud-enabled systems.
The settlement releases all claims between the parties for an after-tax settlement payment of
PowerPlan looks forward to continuing to compete and win in the market based on the strength of its 30+ year history of innovative software and solutions.
About PowerPlan
For more than 30 years, PowerPlan has helped utility and energy companies make the right financial decisions to improve lives and power the world. Through our industry-leading expertise, innovative technology, and vast experience listening to and working in tandem with our clients, PowerPlan software sets the standard that CFOs can count on for financial clarity. For more information, visit www.powerplan.com.
FAQ
What is the settlement amount PowerPlan agreed to pay Lucasys?
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