ATLANTA, Jan. 2, 2025 (GLOBE NEWSWIRE) — ATLANTA, Jan. 2, 2025 – PowerPlan, Inc., a leading provider of financial software and solutions for the energy industry, announced that it has settled the outstanding lawsuit between PowerPlan and Lucasys, Inc. which was pending in the United States District Court for the Northern District of Georgia.
While PowerPlan vigorously disputes Lucasys’ baseless claims in 2020, it is pleased to remove the distraction and uncertainty of litigation. This development allows PowerPlan to fully focus on the continued success of its next generation of 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 end of 2025), while continuously innovating and improving cloud-compatible systems.
The settlement releases all claims between the parties for an after-tax settlement payment of $17.7 million, and specifically excludes any admission of liability or wrongdoing.
PowerPlan looks forward to continuing to compete and win in the marketplace, building on the strength of its more than 30 years of history of innovative software and solutions.
About PowerPlan
For more than 30 years, PowerPlan has helped utilities and energy companies make the right financial decisions to improve lives and power the world. Through our industry-leading expertise, innovative technology and extensive experience listening to and collaborating with our customers, PowerPlan software sets the standard that CFOs can count on for financial clarity. For more information, visit www.powerplan.com.