In early September, Tatsoft LLC announced it reached a significant settlement agreement with Schneider Electric Software LLC and other parties that ended a long-term contractual dispute and lawsuit, by Tatsoft accepting a substantial payment and protection on legal costs. With the settlement, all parties dismissed all of their claims.
With offices in Houston, California and Illinois, Tatsoft is the producer of the software FactoryStudio for Industry 4.0, and received a $1 million payment and indemnification protection on legal costs, estimated at several million dollars. The settlement was reached only moments before trial was set to commence and was a “vindication,” said Eric J. Cassidy, of Houston-based Gregor Cassidy, PLLC, who along with name partner Tom Gregor, represented Tatsoft.
“Since 2011, Tatsoft has fought false claims lodged against it by Schneider Electric. It is fitting that Schneider Electric dropped all claims against Tatsoft in both the U.S. and Brazil, and that defendants paid and indemnified Tatsoft for the harm they caused,” Cassidy exclusively told Leaders In The Law. “This is a prime example of a defendant who decided to settle at the last minute instead of facing what we believe would have been a significant jury verdict in favor of Tatsoft.”
The settlement ended all disputes among various parties, including Schneider Electric Systems USA (formerly Invensys), Schneider Electric Holdings and Tatsoft.