HK Listed Company Forgame Holdings Limited Exposes HumanCode AI’s Corporate Theft and Deceptive Practices
June 20 2024 - 10:00AM
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.
Steven Chu
contact at forgame.com