HK Listed Company Forgame Holdings Limited Exposes HumanCode AI’s Corporate Theft and Deceptive Practices
Formal demands issued to protect Redrock Biometrics’ proprietary technology from corporate misconduct by HumanCode AI.
San Francisco, CA, June 20, 2024 (GLOBE NEWSWIRE) — Forgame Holdings Limited, a firm listed on the Hong Kong Stock Exchange and a significant shareholder of Redrock Biometrics, Inc. (“Redrock”), is taking decisive legal action against HumanCode AI for the flagrant misuse of Redrock’s proprietary technology and pervasive corporate deception.
HumanCode AI, under the leadership of Hua Yang and Zhang Dong (aka Tim Zhang), has been caught exploiting Redrock’s proprietary palm print identification technology. This egregious behavior undermines Redrock’s market position and constitutes a serious breach of trust and legal duties. HumanCode AI’s unethical actions include:
- Theft of Proprietary Software: Unauthorized use of Redrock’s proprietary palm print identification technology to advance HumanCode AI’s competing business.
- Investor Misrepresentation: Misleading investors by falsely claiming ownership of Redrock’s technology and clients, including NCR, Mastercard, Qualcomm, Epson, and Sony Life.
- Fiduciary Breach: Executives leveraging their roles at Redrock to benefit HumanCode AI, violating their fiduciary duties.
- Non-Compete Violation: Establishing and promoting a competing enterprise using Redrock’s technology, in breach of non-compete agreements.
Formal Demands
Details of the specific intellectual property involved are outlined in the legal letter sent to the parties. Forgame Holdings Limited demands immediate compliance from HumanCode AI with the following:
- Cease all use and promotion of Redrock’s proprietary technology.
- Halt any activities involving Redrock’s intellectual property.
- Return all misappropriated intellectual property to Redrock.
- Provide written confirmation of compliance within seven days.
Failure to comply with these demands will result in Forgame Holdings Limited pursuing comprehensive legal action. This will include, but is not limited to, claims for breach of fiduciary duties, violation of non-compete agreements, and other serious infractions. Forgame Holdings Limited is prepared to seek substantial damages and injunctive relief to prevent further misuse of Redrock’s technology and protect its business interests.
A representative from Forgame Holdings Limited stated: “The actions of HumanCode AI and its leadership are nothing short of corporate theft and deception. This egregious misuse of Redrock’s proprietary technology and violation of trust cannot and will not be tolerated. Forgame Holdings Limited is committed to taking all necessary legal steps to protect Redrock’s intellectual property and ensure that those responsible are held accountable for their unethical actions.”
Forgame Holdings Limited is determined to take all necessary legal steps to protect Redrock’s assets and market position from unethical competitors.
About Forgame Holdings Limited
Forgame Holdings Limited is a leading investment firm listed on the Hong Kong Stock Exchange, dedicated to fostering innovation and protecting the integrity of its portfolio companies. As a major shareholder of Redrock Biometrics, Inc., Forgame Holdings Limited is determined to defend Redrock’s intellectual property against any acts of infringement and unethical behavior.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
CONTACT: Steven Chu contact at forgame.com
