Yardi Highlights Dallas Business Journal Article Regarding Yardi Lawsuit Against RealPage

SANTA BARBARA, Calif., Sept. 8, 2011 /PRNewswire-FirstCall/ -- Yardi Systems, Inc. ("Yardi") today highlighted an article published on September 2, 2011 by the Dallas Business Journal, titled "RealPage In Court Battle with Competitor Yardi," which draws attention to recent favorable developments in Yardi's lawsuit against RealPage, Inc. (NASDAQ:RP) ("RealPage").

In its September 2, 2011 article, the Dallas Business Journal reports:

"In August, a federal judge in California threw out four of six legal claims that RealPage made in a countersuit against Yardi, which in turn added allegations to a lawsuit it filed in January."

Yardi's lawsuit alleges that RealPage accessed Yardi's password-protected internal website without authorization, and tampered with and downloaded Yardi's copyrighted and trade secret information, price lists, and other confidential information. In earlier court filings, RealPage admitted that access to and downloading from the website had taken place.

In its article, the Dallas Business Journal noted the following:

"RealPage disclosed in an August Securities and Exchange Commission filing that Yardi is alleging that RealPage:

• Improperly obtained administrative level access to Yardi's software and copied it onto RealPage's servers for its own competitive purposes
• Used unauthorized software copies to discover proprietary programming, functions and features of Yardi's software
• Did this to compete unfairly against Yardi."

Yardi today issued the following statement regarding its suit against RealPage:

"Yardi welcomes fair competition and at the same time is committed to protecting its intellectual property. Yardi believes that RealPage's intellectual property violations are undermining these rights. In order to provide Yardi clients with the best choice, Yardi has created a certification program for interface partners. Yardi has over 70 interface partners (including RealPage) who provide services and functions that complement Yardi Voyager. Yardi is committed to protecting its proprietary resources, its business, and the interests of its clients. Yardi is gratified that the court issued an order granting dismissal of RealPage's counterclaims for antitrust and interference."

Over the past year, Yardi has communicated with RealPage about potential IP violations.  In November 2010, Yardi discovered that RealPage was using stolen credentials to engage in a deliberate and massive misappropriation of Yardi confidential information. Yardi decided to file a lawsuit to protect its intellectual property following this discovery.  Despite admitting that access and downloads took place, RealPage then elected to file a countersuit alleging antitrust practices, interference and trade secret misappropriation. 

Yardi's claims against RealPage are currently proceeding through discovery.  Trial is set for August 12, 2012. On September 2, 2011, RealPage filed its Second Amended Counterclaims with the U.S. District Court for the Central District of California, and Yardi has until September 16, 2011 to file its response. Yardi's original complaint is available at www.yardi.com/US/legal.aspx.

Neither the consent of the Dallas Business Journal nor the consent of Jeff Bounds, the author of the article, has been sought or obtained for the use or reprinting sections of this article.

About Yardi

Yardi Systems has been committed to the design, development, and support of innovative software solutions for nearly 30 years. Yardi Voyager™ products offer solutions for owners and managers of residential and commercial properties. Yardi products are used to manage nearly 7,000,000 residential units and 7 billion square feet of commercial real estate. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.

Contacts

Yardi Systems, Inc.
Joel Nelson
800-866-1144 x1255
[email protected]

Kelly Sullivan / Annabelle Rinehart
[email protected] / [email protected]
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Yardi Systems, Inc.