FB pixel

Chinese investor accuses HumanCode AI and Redrock Biometrics of IP abuse

Redrock fires back
Categories Biometric R&D  |  Biometrics News  |  Trade Notes
Chinese investor accuses HumanCode AI and Redrock Biometrics of IP abuse
 

Forgame Holdings Limited, a company listed on the Hong Kong Stock Exchange and a shareholder of Redrock Biometrics, is initiating legal proceedings against HumanCode AI. A legal letter claims the misuse of Redrock’s proprietary biometric technology and alleges widespread corporate misconduct. Redrock has responded by accusing Forgame of distorting the facts.

HumanCode AI, led by Hua Yang and Zhang Dong (also known as Tim Zhang), has been accused of exploiting Redrock’s palm print identification technology without authorization. The actions of HumanCode AI have been described as a serious breach of trust and a violation of legal duties.

A representative from Forgame Holdings Limited, states: “The actions of HumanCode AI and its leadership constitute corporate theft and deception. This misuse of Redrock’s proprietary technology and violation of trust is unacceptable.

“Forgame Holdings Limited is committed to taking all necessary legal steps to protect Redrock’s intellectual property and ensure accountability for these unethical actions.”

According to the allegations, HumanCode AI has used Redrock’s palm print identification technology to support its own business operations without permission. The company is also accused of misleading investors by falsely claiming ownership of Redrock’s technology and clients, including corporations such as NCR, Mastercard, Qualcomm, Epson, and Sony Life.

It is also alleged that executives from HumanCode AI, who held roles at Redrock, have used their positions to benefit HumanCode AI, thus violating their fiduciary responsibilities. Additionally, HumanCode AI is accused of establishing and promoting a competing business using Redrock’s technology, contrary to existing non-compete agreements.

Forgame Holdings Limited has outlined its demands in a legal letter sent to HumanCode AI, with demands that include the immediate cessation of the use and promotion of Redrock’s proprietary technology, as well as halting all activities involving Redrock’s intellectual property, and returning all misappropriated intellectual property to Redrock.

Forgame also wants HumanCode AI to provide written confirmation of compliance within seven days. The company is prepared to pursue claims for breach of fiduciary duties, violation of non-compete agreements, and other infractions, seeking substantial damages and injunctive relief.

The final demand in Forgame’s letter, however, is made of Redrock: the investor wants back the $800,000 it paid for a senior unsecured convertible promissory note issued on July 24, 2018.

Redrock stands with HumanCode

Redrock’s board quickly issued a statement refuting Forgame’s allegations and accusing the company of defaming HumanCode.

The board calls Forgame’s press release “factually distorted news” and has expressed shock at the Hong Kong investment firms actions.

Further, Redrock says that “Forgame is a convertible bondholder with no equity stake in Redrock,” and that HumanCode has licensing agreements for the biometric technology it uses that was developed by Redrock, “with all fees duly paid.”

The board of Redrock has been in contact with Forgame, and says it is prepared to support HumanCode in defense of its legal rights.

Elsewhere, HumanCode AI recently partnered with TON Society to develop AI-powered palm biometrics software in a bid to enhance digital identity verification methods.

This post was updated at 1:21pm Eastern on June 21, 2024 to include the response from Redrock Biometrics.

Related Posts

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

Physical, digital spoof detection for ID documents upgraded by IDScan.net

IDScan.net is introducing new tools to detect more instances of tampering on identity documents. The new features to detect physical…

 

Social media giants face the wrath of new Australian government committee

Australia continues to harden its stance on social media. In a release from the office of Minister for Communications Michelle…

 

New Zealand trust framework looks to onboard digital ID providers

In an interview with Radio New Zealand (RNZ), Digital Identity New Zealand Executive Director Colin Wallis confirms that the country’s…

 

Google introduces passkeys for users at high risk of cyberattacks

Google users now have the option to use passkeys for account security in signing up for its Advanced Protection Program…

 

EU residency permits to exempt Brits from biometric checks at UK border

The UK government has confirmed its intention to implement the changes necessary to accommodate the European Union’s new digital Entry/Exit…

 

DHS to hold industry day for biometric scanner contract

A hybrid industry day will be held by the U.S. Department of Homeland Security on July 29 to share information…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events