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RMT General Secretary Mick Lynch said: "The Government is once again not allowing the Rail Delivery Group (RDG) to make an improved offer that we can consider.
"Therefore, we have to pursue our industrial campaign to win a negotiated settlement on jobs, pay and conditions.
"Ministers cannot just wish this dispute away.
"They underestimate the strength of feeling our members, who have just given us a new six-month strike mandate, continue to support the campaign and the action and are determined to see this through until we get an acceptable resolution."
Perhaps we allowed them to extradite the wrong Lynch
Tricky, are you seriously telling me you read the judgement?....it runs to over 700 pages (presumably with lots of legal jargon).
Baldy,
Autonomy was headquartered in the UK but had offices around the world, including America.
An interesting read about the whole shenanigans:
https://www.judiciary.uk/wp-content/uploads/2022/05/AUTONOMY-COMPOSITE-PART-A-FINAL-AS-SEALED-NOON.pdf
"Yes! Autonomy was a British data firm. "
=================================================
Tricky, I'm not a legal expert but assuming Autonomy had assets in USA that the UK parent company overstated in value then Mr Lynch could be liable in the USA for any crimes committed there....hence presumably the extradition request.
As to your second point I don't think it would be a good defense for him to use that he was allowed to do the alledged things because HP did something similar. If what HP did was illegal then surely Mr Lynch would be in legal jeopardy too. In fact he would 'probably' be admitting to the crime....I suppose he could use it in mitigation IF he is found guilty in USA.
Well, that RNS ends the speculation then:
First Quarter 2023 Financial Results on May 30, 2023
Yes! Autonomy was a British data firm.
Lynch can be Lynched in America because of the extradition treaty.
HP had previously been found guilty of much the same practices that it alleged forced a write down of the Autonomy purchase:
Washington D.C., Sept. 30, 2020 —
The Securities and Exchange Commission today announced charges against technology company HP Inc. for misleading investors by failing to disclose the impact of sales practices undertaken in an effort to meet quarterly sales and earnings targets. HP has agreed to pay $6 million to settle the charges.
According to the SEC's order, from early 2015 through the middle of 2016, in an effort to meet quarterly sales targets, regional managers at HP used a variety of incentives to accelerate, or "pull-in" to the current quarter, sales of printing supplies that they otherwise expected to materialize in later quarters. The order further finds that, in an effort to meet revenue and earnings targets, managers in one HP region sold printing supplies at substantial discounts to resellers known to sell HP products outside of the resellers' designated territories, in violation of HP policy and distributor agreements. The order finds that HP failed to disclose known trends and uncertainties associated with these sales practices. The order further finds that HP failed to disclose that its internal channel inventory ranges, which it described in quarterly earnings calls, included only channel inventory held by channel partners to which HP sold directly and not by channel partners further down the distribution chain, thereby disclosing only a partial and incomplete picture of HP's channel health.
As set forth in the order, HP changed its go-to-market model in part to address these undisclosed sales practices and undertook a channel inventory reduction that reduced its net revenue by approximately $450 million during the third and fourth quarters of 2016.
"Investors are entitled to accurate disclosures of business trends that are likely to have a material impact on a company's future revenues or operating profits," said Melissa Hodgman, an Associate Director in the SEC's Division of Enforcement. "HP’s failure to disclose the foreseeable negative impact of its use of pull-ins and other sales practices created a misleading and incomplete picture of the company’s financial condition."
The SEC's order finds that HP violated the antifraud, reporting and disclosure controls provisions of the federal securities laws. Without admitting or denying the SEC's findings, HP consented to a cease-and-desist order and to pay a $6 million penalty.
"If you were buying a 'home' in a different country and were misled, should the (so-called) burglar be brought to your country to be prosecuted?"
==========================================================
Was Autonomy purely a UK company at the time of the sale?.....if the law was broken in UK then he would face justice here. If laws were broken in USA then he would be extradited there to face justice.
I suspect the argument against the extradition treaty with the USA is that it might be rather one sided, but since I don't know the statistics I cannot comment. Judges here have concluded that he can be extradited. He has the money to get the best defence team, so if he is innocent then he will find a way to prove it. I suppose he could bung Clarence Thomas a few bucks just to be sure!
All Tremor investors should go to 476 on the list and read from point 41 onwards.
Black and white explanation of how they tried and succeeded in fooking us from Aug/Sept 21 onwards.
I can't see how they can risk this going to court.
Safe to assume we got the full $10M owed to us, plus interest and costs?
The fact that Alphonso/Lg have agreed to pay must put them on the back foot for the rest of the case?
Below is the original claim from 2 years ago.
In January 2021, Alphonso publicly revealed the identity of the acquirer: LG
Electronics, Inc. (“LG”). After the public announcement, Alphonso terminated the Strategic
Partnership Agreement, effective May 14, 2021. Rather than cooperating to wind down the
years-long partnership in a responsible and professional manner, Alphonso has engaged in
numerous material breaches of the parties’ contracts and other tortious conduct, with the
apparent aim of competing unfairly against Tremor. Among other things, Alphonso has
misused Tremor’s confidential information in an attempt to steal Tremor’s clients, has recruited
Tremor’s employees and has refused to remit over
ten million dollars of the money Tremor advanced to Alphonso and that Alphonso has a clear duty to repay.
I have only read the judgement once but this is my take
LG sought to have the claims against it thrown out on jurisdiction grounds on the basis that even if they did what it is alleged by the Plaintiff they did those actions were taken in Korea and not in New York. LG weren't a party to the contracts and there could be no contractual claims against them.
Their lack of jurisdiction claims were thrown out because it was at least arguable they were part of a conspiracy to breach contract by Alphonso that the claims should be allowed to proceed to be determined on the facts.
An equitable claim of unjust enrichment by the Plaintiff was a make weight claim and did not add any value to the contractual/tort claims that it was either conceded or will be thrown out in the judgement. During argument it transpired that recently (last 2 weeks) Alphonso/LG paid TRMR the loan made to alphonso by it and presumably interest & costs.
I haven't read any further than the judgement but it would appear that there is a timetable for a hearing for the claimants claim to summary judgement which timetable might need to be adjusted to accommodate a couple of depositions that still need to take place.
That's my take on it
Thanks, Bouncy.
Let's keep in touch...check in every so often. Good to know you're alive and well.
Dawg
Baldy,
If you were buying a 'home' in a different country and were misled, should the (so-called) burglar be brought to your country to be prosecuted?
Dawg,
Good to know you're still at it ;)
Nope, not invested in Blinkx/Tremor, haven't been for years. Just saw the article on Lynch and thought I'd post it here for old time's sake :)
Good luck to you and I hope Tremor comes good for you very soon.
"If auditors are doing their job correctly it should be impossible to deceive them."
==========================================
Tricky, almost sounds like you think he's guilty.
Personally I blame the homeowner who got burgled for not having a better alarm system.
Far more interesting than the Lynch proceedings so lets discuss Tremor.
Judge coming out in our favour on a number of questions.
New Doc's Loaded & Very Interesting
https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=j/MKa5jKQOiZ2rhRcKfwfw==&PageNum=7&narrow=
If auditors are doing their job correctly it should be impossible to deceive them.
HP/Deloitte failed to look at the cash flow.
Should be "marked", not "market" two posts below.
Hey BDC,
Still canning, pickling (lacto-fermenting), smoking meats, making jam, baking wild yeast sourdough breads, etc.
Tonight it's fresh caught (this morning) Spring Chinook....that stuff melts in your math.
Are still in blinkx/TRMR? If so, don't be such a stranger.
Dawg
From where I sit Lynch was a bit of a con-artist.
I well recall the lies he told prospective customers of Autonomy about the broom closet market "Data Center---Private" to fool people into thinking there was such a room. That was red flag for me.
I made a small fortune off Lynch, so I am not complaining about that. It's just that I happen to think the dude is shady. But HP were stupid jackasses for not doing proper due-diligence, as Larry Ellison did on Autonomy when they tried to sell to him...Ellison took a pass, saying he 'didn't see anything there worth buying'.
Hey dawg,
All good thanks. Hope you're well and enjoying life in beautiful Oregon.
You still canning like a good un?
The extradition treaty negotiated quickly after 9/11 by Tony Blair was sold to Parliament as a measure to deal with terrorists, murderers and paedophiles. Instead, it is being used to pursue commercial traders, bankers and business people. It means an entrepreneur who falls out with an American company – as Dr Lynch did – can be seized from our shores.
France and Germany do not allow America such extradition powers over its citizens.
Lynch will be offered a plea deal of a few years in an open prison and threatened with 20 years if he doesn't plead guilty.
Hey Bouncy,
Now there's a blast from the past.
What's up, bro? How's life been treating you these many years?
Great to hear from you.
Dawg
I hope for his sake he likes porridge!
Linear TV is still relevant: over 100 million viewers watched the Super Bowl on TV and by contrast, only around 11 million streamed it online? Best to keep it in the mix.