HESS J1534-571 is a very high energy gamma-ray source that was discovered by the H.E.S.S. observatory and reported as one of several new sources with a shell-like morphology at TeV energies, matching in size and location with the supernova remnant G323.7-1.0 discovered in radio observations by the Molonglo Galactic Plane Survey. Many known TeV shells also show X-ray emission, however, no X-ray counterpart has been seen for HESS J1534-571. The detection of a new GeV source using data from the Fermi satellite that is compatible in extension with the radio supernova remnant and shows a very hard power-law spectrum () is presented here, together with the first broadband modeling of the nonthermal emission from this source. It is shown that leptonic emission is compatible with the known multiwavelength data and a corresponding set of physical source parameters is given. The required total energy budget in leptons is reasonable, ∼ 1.5×1048 erg for a distance to the object of 5 kpc. The new GeV observations imply that a hadronic scenario, on the other hand, requires a cosmic ray spectrum that deviates considerably from theoretical expectations of particle acceleration.