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L-Soft international, Inc. has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code to help resolve a five-year legal dispute. Normal business operations and customer service are expected to continue. The other companies in the L-Soft group have no plans to file for Chapter 11 and will also continue to operate normally.
This legal issue began in 2002 when two mid-sized law firms teamed up to take on a contingency suit against L-Soft international. Believing the company to be much larger than it really is, they thought that L-Soft would be in a position to consider writing them a quick $10,106,045 settlement check just months after 9/11. Unfortunately, and despite numerous efforts on L-Soft's part to settle the case, a protracted process of litigation over the next five years ensued. Chapter 11 proceedings will provide a court-supervised framework through which we can resolve this conflict in a manner that is fair to both parties. At this point, L-Soft is not discussing the litigation itself, as the case is still pending.
L-Soft will continue to develop and offer top-notch software and provide related customer support and services. L-Soft is the only company developing and selling the original LISTSERV® email list management software, the only solution of its kind with a 20-year proven track record of success.
For future updates on new developments, please subscribe to our "Onward, L-Soft" announcement list. You are also welcome to join "Reboot 11", the CEO's email list, with updates every now and then.
We will do our best to continue to fulfill the L-Soft brand promise and LISTSERV heritage: To provide great software that works and scales up!
Thank you for your continued commitment and loyalty.
Sincerely,
L-Soft Staff
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