The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Seems people are getting a bit spooked by the appeal request being approved. Specifically, perhaps, this line:
However, Sycurio noted comments by Lord Justice Arnold who, in granting the permission to appeal, said: "Notwithstanding the force of the points made by the respondents, I consider that the grounds of appeal have a real prospect of success."
Sycurio clearly trying to beat down the stock some more so they can come in with another bid:
Paul Greensmith, Sycurio's chief financial officer, commented: "If the Appeal Court continues the stay [of costs] and Sycurio prevails on its appeal, it is expected that Sycurio will not have to pay these amounts to PCI Pal and that PCI Pal will have to pay a substantial portion of Sycurio's trial costs and appellate costs."
No chance!
Sycurio Limited v PCI-PAL Plc and another
Case results:
Allowed on 25-Jan-2024
Track Your Case:
Current Status: Awaiting bundles and/or documents from applicant/applicant's solicitors
Tracking Information:
25-Jan-2024: Case file passed to Case Management
25-Jan-2024: Application allowed on paper by Lord/Lady Justice
25-Jan-2024: Case given a decision on paper
05-Jan-2024: Letter sent to applicant/solicitor to request bundles and/or documents
04-Jan-2024: Case file passed to Case Management
Last Updated: 25-Jan-2024
https://casetracker.justice.gov.uk/getDetail.do?case_id=CA-2024-000006
------------------------------
Court of Appeal
In most cases permission to appeal to the Court of Appeal is required. The lower court may grant permission, but this is unusual as it is a way of saying that the judge accepts the decision may not be right. More often, permission is refused and one has to apply for permission from the Court of Appeal itself. It is vital to initiate this process quickly. One has to lodge an “Appellant’s Notice” within 21 days of the decision to be appealed along with grounds of appeal. This is relatively easy to do, as the information required is not great. Nevertheless, full documentation and a skeleton argument in support have to be provided shortly after that.
In cases where permission for judicial review is refused by the High Court, the Appellant’s Notice must be lodged within one week (7 days).
Refused permission
A decision is made, usually on paper, by a Lord/Lady Justice of Appeal. The prospective appellant must show that the proposed appeal stands a realistic prospect of success.
If permission to appeal is refused at that stage, that is the end of the matter. One cannot take it further to the Supreme Court because you will have been refused twice – in the High Court and Court of Appeal.
Granted permission
If permission is granted, the appeal will be heard, usually before a three-person court. Usually, no new evidence is allowed as the facts have been available at the High Court stage, but sometimes it is possible to file fresh evidence. The appeal stage therefore tends to be cheaper than the High Court stage.
As in the High Court, judgment may be given on the spot, though usually it is handed down in writing later. Increasingly, the Court of Appeal will either give one judgment on behalf of the Lord/Lady Justices, or two will simply agree with one lead judgment. This unanimity is less interesting than previous practice where the judges had different perspectives. There is also again argument about costs and permission to appeal to the Supreme Court (which is almost invariably refused). This may be done in Court or, frequently, on paper.
https://www.richardbuxton.co.uk/legal-process/court-of-appeal-supreme-court/#:~:text=A%20decision%20is%20made%2C%20usually,the%20end%20of%20the%20matter.
This was filed less than three weeks ago.
SYCURIO MIDCO 3 LIMITED
04 Jan 2024 Appointment of Nick Viney as a director on 1 January 2024
https://find-and-update.company-information.service.gov.uk/company/13451660/filing-history
-------------------------------
Press release
Sycurio™, the leading provider of seamless and secure multi-channel payment experiences for contact centers, today announced the appointment of Denise Parker as its new CEO, replacing outgoing CEO Nick Viney.
As the company places further focus on international success and enhancing customer and partner relationships across North America, Denise brings a unique mix of industry knowledge, go to market operations and channel expertise that will accelerate global expansion. She has been a valued member of Sycurio's Board of Directors for over two years and part of Sycurio's journey following Livingbridge investing in June 2021.
“We are incredibly fortunate to have someone of Denise Parker’s caliber and experience to lead Sycurio,” said Carlos Sartorius, Sycurio Chairman. “She brings a wealth of international, private equity, industry, and product experience, and is well-equipped to steer Sycurio through its next phase of growth. We also want to express our gratitude to Nick Viney for his contribution to the business, and we wish him all the best in his future endeavors.”
With over 25 years’ experience in the Enterprise Software and Cloud market, spanning leadership roles in channel, strategy and operations, Denise joins Sycurio from Arcserve where she was EVP and CRO. Prior to that she was SVP, Global Sales at Finastra and has held leadership and senior management roles at Automation Anywhere, Sitecore and Microsoft.
“This is an exciting time to be joining Sycurio as CEO. I am inspired by the company's commitment to customer excellence, innovation, and its strong foundation,” said Denise Parker. “I look forward to leading and working with the Sycurio team to drive our shared vision, continued growth and delivering unparalleled value to our customers, partners and other stakeholders."
https://sycurio.com/knowledge/press/sycurio-appoints-denise-parker-as-chief-executive-officer
------------
Denise Parker has been a Non-Executive Director at Sycurio since
November 5, 2021
"Joining the board as Chairman, based in the UK, is Carlos Sartorius and two Non-Executive Directors; Denise Parker and Michael Sterl, both based in the United States"
https://sycurio.com/knowledge/press/semafone-appoints-three-new-board-members-to-accelerate-global-growth-and-innovation
Hopefully she's a bit more switched on than her predecessor!
Denise Parker.
Chief Executive Officer
Denise is an international executive with over 25 years’ experience in the enterprise software and Cloud market, spanning leadership roles in channel, strategy and operations.
Denise started her career in business consulting, focusing on post-merger, then spent over a decade at Microsoft. She has worked across four PE-backed companies - heading up the partner business for K2, Chief Customer Officer for Sitecore, SVP of Global Business Operations at Automation Anywhere and Global Head of Channel Sales at Finastra. She joined Sycurio from Arcserve where she was EVP and CRO, creating and leading their go-to-market initiatives and driving customer value.
Denise holds a master’s degree in engineering and a Ph.D. from the Technical University in Zurich, Switzerland.
https://sycurio.com/about/executive
-------------------
Last Updated: Jan. 19, 2024, 12:25 p.m
Jan 19, 2024
Order on Motion for Miscellaneous Relief
Jan 19, 2024
Order on Motion for Extension of Time AND Order on Motion to Withdraw
https://www.courtlistener.com/docket/60385210/sycurio-limited-v-pci-pal-us-inc/
------------------
Should be on here tomorrow
https://www.pacermonitor.com/public/case/41847299/Semafone_Limited
Progress
Thursday, January 18, 2024
101 . motion Extension of Time Withdraw Thu 01/18 12:07 PM
Joint MOTION for Extension of Time of Scheduling Order Deadlines ( Responses due by 2/1/2024 ), Joint MOTION to Withdraw96 MOTION Limit The Number of Asserted Patent Claims ,99 Scheduling Order, by Sycurio Limited. (Werber, Matthew)
https://www.pacermonitor.com/case/41847299/Semafone_Limited
Nov 23, 2023
Bevan Duncan returns to Livingbridge after spending time as Managing Director of the Strategic Equity division at Gresham House, an AIM listed specialist alternative asset manager and most recently as COO of financial services startup, Mintus. Bevan was previously part of the Livingbridge team from 2005 to 2018, where he played an instrumental role in supporting our investments in Key Travel, Eque2, MLS, Crew Clothing and Pho.
We are delighted to have Bevan back with us working alongside our portfolio management teams to support them in developing, executing and driving strategies to maximise their growth.
Wol Kolade, Managing Partner at Livingbridge said: We are excited to be welcoming these new hires and for Bevan to be back with us. In what has been another unprecedented year, this only shows our commitment to ensuring that we have an experienced and dedicated team in place to continue doing what we do; investing well and delivering great results.
https://www.livingbridge.com/livingroom/livingbridge-announces-series-of-new-hires
-----------------
Livingbridge
17 Jan 24
🎉 We are thrilled to announce the appointment of Bevan Duncan to Partner, as well as a further 11 promotions across the Livingbridge team!
https://www.linkedin.com/posts/livingbridge_we-are-thrilled-to-announce-the-appointment-activity-7153003703719849985-hU0W
-----------------
No date
By Bevan Duncan and Ken Wotton, Managers of the Baronsmead VCTs
Unique UK startups thriving despite pandemic pressures
In public markets, the share price volatility has also created attractive opportunities for investment. In the payment card industry, PCI Pal’s cloud-based software provides secure payment infrastructure to call centres. The company, which also fits into the digital transformation and business resilience theme, raised further capital at the start of the pandemic to provide working capital headroom and funding for future growth. The share price has performed strongly since our follow-on investment and we are encouraged by the long-term growth prospects of the company.
https://startupsmagazine.co.uk/article-unique-uk-startups-thriving-despite-pandemic-pressures
Lucretuis
Yes, I picked out footnote 5 and Dispositive motions. I should have put a line between them.
"Sycurio may deem confidential because they relate to Sycurio’s and its private equity owner’s belief that the litigation would devalue PCI Pal and make it an easier acquisition target."
--------------------------------
CONCLUSION
It is time to streamline this case and prepare it for dispositive motions (and trial if
necessary).
Dispositive motion
A dispositive motion is a request for a ruling that terminates the case in advance of the trial. There are two kinds of dispositive motions: a motion to dismiss, which tests the legal issues, and a summary judgment motion, which looks into the facts.
-----------------------
Next big date January 18, 2024, Amended Infringement Contentions Served
Let's see if
leave may be sought
in this Court to amend infringement contentions after the deadline based on “information
newly discovered or confirmed, through due diligence, regarding an accused product or
prior art”
Victor
I wasn’t quite clear so is this the footnote to which you were referring:
5 Although Sycurio suggests that PCI Pal redacted portions of that email chain to misrepresent the extent of the meet and confer process, the reality is that PCI Pal redacted portions that it believed Sycurio may deem confidential because they relate to Sycurio’s and its private equity owner’s belief that the litigation would devalue PCI Pal and make it an easier acquisition target. Regardless, the emails show that Sycurio never substantively responded.
It is a close-run thing between Mr Silverleaf and the US lawyers as to which is doing the better job for Livingbridge/Sycurio in postponing the inevitable!
I think Simon Hollingsworth’s bonus pot for 2024 and beyond will be rather empty. And still no sign of Wol.
Friday, January 12, 2024
100 .. respm Reply to Response to Motion Fri 01/12 11:37 AM
REPLY to Response to Motion re96 MOTION Limit The Number of Asserted Patent Claims by PCI Pal (U.S.) Inc.. (Dority, James)
https://www.pacermonitor.com/case/41847299/Semafone_Limited
------------------------
Spiky reply, from John F. Morrow ( WOMBLEBOND DICKINSON )
Footnote 5
Dispositive motion
A dispositive motion is a request for a ruling that terminates the case in advance of the trial. There are two kinds of dispositive motions: a motion to dismiss, which tests the legal issues, and a summary judgment motion, which looks into the facts.
Thursday, January 11, 2024
99.. 1 pgs order Scheduling Order Thu 01/11 8:20 AM
Pretrial Order and Case Management Plan: Fact Discovery Closes 6/17/2024. Close of Expert Discovery by 9/16/2024. Mediation deadline set for 9/30/2024. Dispositive Motions and Daubert Motions due by 11/4/2024. Jury Trial set for 2/19/2025 09:30 AM in Courtroom #5A, 401 W Trade St, Charlotte, NC 28202 before District Judge Max O. Cogburn Jr. Signed by US Magistrate Judge Susan C. Rodriguez on 1/10/2024. (brl)
https://www.pacermonitor.com/case/41847299/Semafone_Limited
-------------------------------------
Pcip, reply should be here tomorrow
98..Replies due by 1/12/2024(Werber, Matthew)
=======================
Waiting for the Transmittal of decision, here
EP3603043 TELEPHONE SIGNAL PROCESSING
Applicant(s) For all designated states
Sycurio Limited
Pannell House
Park Street
Guildford, Surrey GU1 4HN / GB
https://register.epo.org/application?number=EP18715240&lng=en&tab=doclist
---------------------------------------
Meanwhile
Patent family: EP3603043 member (below)
Global Dossier: US201816496298 TELEPHONE SIGNAL PROCESSING
Applicants
SEMAFONE LTD [GB]
https://worldwide.espacenet.com/patent/search/family/058688340/publication/US2020076953A1?q=pn%3DUS2020076953
Global Dossier: US201816496298
09.01.2024 Abandonment
https://register.epo.org/ipfwretrieve?apn=US.201816496298.A&lng=en
---------------------------------------------------
Global Dossier: US202217717500 PROCESSING SENSITIVE INFORMATION OVER VOIP
Applicants
PCI PAL U K LTD [GB]
Inventors
FORSYTH GEOFF [GB]; BRANCO CESAR [GB]; THORPE JAMES [GB]
https://worldwide.espacenet.com/patent/search/family/060326700/publication/US2022239705A1?q=pn%3DUS2022239705
Global Dossier: US202217717500
09.01.2024 eGrant day-of Notification
https://register.epo.org/ipfwretrieve?apn=US.202217717500.A&lng=en
This will show up at pacer tomorrow
https://www.pacermonitor.com/case/41847299/Semafone_Limited
---------------------------
Sycurio Limited v. PCI Pal (U.S.) Inc
99
Jan 11, 2024
Main Document
Scheduling Order
https://www.courtlistener.com/docket/60385210/sycurio-limited-v-pci-pal-us-inc/
--------------------------
Now end of Jan , to answer, or otherwise respond to Plaintiff’s Complaint
BLIER v. SYCURIO, INC F/K/A SEMAFONE, INC. et al
8..Joint STIPULATION re1 Complaint allowing Defendants extension of time to respond to complaint filed by All Defendants. (Jewell, Jessica)
https://www.pacermonitor.com/case/50982135/BLIER_v_SYCURIO,_INC_FKA_SEMAFONE,_INC_et_al
Victor,
Thanks. A ringing endorsement of Mrs Justice Bacon from the Court of Appeal. I bet Lord Justice Arnold will hear the Sycurio appeal as well and I bet he will ask why Mr Silverleaf is wasting the Court of Appeal’s time.
Thanks, Lucretuis
As you say "Very predictable"
----
I posted this case in Nov 23
MRS JUSTICE BACON
Between :
EASYGROUP LIMITED
Claimant
- and -
(1) NUCLEI LIMITED
(2) PATHWAY IP SARL
(a company incorporated under the laws of Luxembourg)
(3) REGUS GROUP LIMITED
(4) IWG PLC
Witnesses
easyGroup’s witnesses
13. easyGroup’s principal witness was Sir Stelios, who is the founder, ultimate beneficial owner and director of easyGroup. He provided a witness statement for these proceedings, and also relied on a previous witness statement given in October 2009 for the purpose of his defamation claim against Mr Dixon and others. When cross-examined Sir Stelios was revealed to be a deeply unimpressive witness. He was argumentative, giving answers that were defensive to the point of implausibility, and repeatedly contradicted points set out in one or other of his witness statements. It was clear that he had a poor recollection of the events that formed the background to these proceedings. It also became evident that his most recent witness statement contained substantial material that (contrary to the requirements of Practice Direction 57AC) was not within Sir Stelios’ personal knowledge and recollection, but was instead drafted by his lawyers, giving evidence of points on which Sir Stelios had no clear recollection whatsoever. In those circumstances I unfortunately have to conclude that I can place very little weight on his evidence save where it is corroborated by other evidence in the case, including contemporaneous documents.
https://www.bailii.org/cgi-bin/format.cgi?doc=/ew/cases/EWHC/Ch/2022/901.html&query=(.2022.)+AND+(EWHC)+AND+(901)+AND+((Ch))
----------
Here is the appeal, for anyone who is interested
IN THE COURT OF APPEAL (CIVIL DIVISION)
ON APPEAL FROM THE HIGH COURT OF JUSTICE, BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES, INTELLECTUAL PROPERTY LIST (ChD)
Mrs Justice Bacon
Date: 27 October 2023
Before :
LORD JUSTICE ARNOLD
LORD JUSTICE NUGEE
and
SIR CHRISTOPHER FLOYD
Between :
EASYGROUP LIMITED
- and -
(1) NUCLEI LIMITED
(2) PATHWAY IP SARL
(3) REGUS GROUP LIMITED
(4) IWG PLC
Hearing dates : 10-11 October 2023
https://caselaw.nationalarchives.gov.uk/ewca/civ/2023/1247
Https://casetracker.justice.gov.uk/getDetail.do?case_id=CA-2024-000006
Very predictable
Victor,
Yes, I had noticed the “s” on expert, too. The only one I was aware of was Mr Willis, whose evidence was helpful to PCIP on claim construction.
I can’t believe Mrs Penn would have been drafted in for her “expertise”, so, like you, I wonder who he/she/they are?
Given the track record so far, how can we be confident that he/she/they wouldn’t breach a confidentiality agreement as a result of being overcome by, for instance, “inadvertency” or “brain frog”? I don’t think we can be; unfortunately.
Lucretuis
Wouldn't normally ask this question, but after the " Breach of confidentiality agreement by Sycurio Ltd"
On page 2, Document 98
" counsel for Sycurio had just begun to analyse the order with its client and
experts"
I thought that Mr Willis was the only Sycurio expert?
Who are the other(s)? and what are they discussing?
----------------------------
Found a free Download for Document 44
Page 2
"Sycurio is presently
coordinating with its expert to schedule and subsequently commence with source code inspection
subject to the source code review protocols set forth in the Court’s protective order. (Dkt. 44 § 9)"
Document 44
9. SOURCE CODE
https://storage.courtlistener.com/recap/gov.uscourts.ncwd.105561/gov.uscourts.ncwd.105561.44.0.pdf
Victor
Thanks for posting that as I had forgotten that it was due. Seems like the start of the trial could be at least 9 nine months away as fact discovery in the case will run for 6 months after the Case Management Plan is filed (impliedly the plan should be filed soon) and expert discovery a further 3 months after the end of fact discovery. So, on that basis, if the full time allocation is taken, the trial would not start until late 2024 or early 2025.
The name Yale is associated primarily with high intelligence (Yale University) or good security (Yale locks). I assume one or both organisations must have finally complained about Livingbridge’s use of the name Yale in its “Midcos”; hence the recent name changes. Livingbridge and its main executive on its Sycurio investment, Simon Hollingsworth, are associated with a high level of stupidity (for bringing the patent cases) and low levels of security (the breach of the confidentiality agreement in April
2022 in which both Lvingbridge and Sycurio executives participated).
So from now on any company wishing to be associated with stupidity and occasional security incontinence should at least have the word “Livingbridge” or “Sycurio” in its name.
Friday, January 05, 2024
98. respm Response in Opposition to Motion Fri 01/05 10:58 PM
RESPONSE in Opposition re96 MOTION Limit The Number of Asserted Patent Claims by Sycurio Limited. Replies due by 1/12/2024(Werber, Matthew)
https://www.pacermonitor.com/case/41847299/Semafone_Limited
Yale Midco, 1,2,3 LTD
Now
----------------------------
SYCURIO MIDCO 1 LIMITED
05 Jan 2024..Company name changed yale midco 1 LIMITED\certificate issued on 05/01/24
Change of name by resolution
04 Jan 2024 Appointment of Mr Paul John Greensmith as a director on 27 December 2023
https://find-and-update.company-information.service.gov.uk/company/13451666/filing-history
------------------------------------------------
SYCURIO MIDCO 2 LIMITED
05 Jan 2024..Company name changed yale midco 2 LIMITED\certificate issued on 05/01/24
Change of name by resolution
04 Jan 2024 Appointment of Mr Paul John Greensmith as a director on 27 December 2023
https://find-and-update.company-information.service.gov.uk/company/13451657/filing-history
----------------------------------
SYCURIO MIDCO 3 LIMITED
04 Jan 2024 Appointment of Nick Viney as a director on 1 January 2024
12 Dec 2023..Company name changed yale midco 3 LIMITED\certificate issued on 12/12/23
Change of name by resolution
https://find-and-update.company-information.service.gov.uk/company/13451660/filing-history
Let’s hope someone shanks them before then
Another year on Death Row?
04.01.2024 Summons to attend oral proceedings
From 18- 09- 2024 to 19-09-2024
https://register.epo.org/application?documentId=LQGOH24GWSRRLKP&number=EP09742359&lng=en&npl=false
-------------------------------------
04.01.2024 Annex to the communication - opposition
https://register.epo.org/application?documentId=LQGOIHRS1UCGAUY&number=EP09742359&lng=en&npl=false
"In conclusion, it seems at present that none of the above auxiliary request would address all the aspects presently regarded as problematic for the main request without introducing other deficiencies."
Thus, the OD is of the provisional view that none of the request seems allowable.
------------------------
EP All documents: EP2286576
https://register.epo.org/application?number=EP09742359&lng=en&tab=doclist
Nice work, both. I wish I could contribute an opinion, but it really is all French to me. Kudos to you two for the effort.
Interesting to see the volume here of late. Someone seems to be building a position. Four 100k+ share days in the last six over the Xmas period is certainly noteworthy (even though in absolute terms that is clearly still not a ton of money, but it's a lot for this stock).
Victor
That’s a great selection of documents for anyone wanting to know the key points, and well done for finding a free copy of the Markman ruling . Now even those who were reluctant to fork out $5 can read it.
As you say, it would be interesting to have other people’s views.