Business
Breach of confidentiality agreement by Sycurio Ltd
Breach of confidentiality agreement by Sycurio Ltd.
About this update from Pci-pal Plc
[{"type":"text","content":"\n\n\n \n \n07 June 2023\n \nRNS Reach\n \n \nPCI-PAL PLC\n(\"PCI Pal\", \"the Company\" or \"the Group\")\n \nBreach of confidentiality agreement by Sycurio Ltd\n \nPCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, has today made the following press release in relation to its ongoing patent dispute with its competitor, Sycurio Limited (\"Sycurio\") (formerly Semafone Limited).\n \nPress Release\n \nOn Friday 26 May 2023, Sycurio's US lawyers informed the Company that in April 2022 its client Sycurio breached the terms of confidentiality agreements that had been put in place between PCI Pal and Sycurio to protect information provided as part of the unfounded, ongoing patent litigation (\"Confidentiality Agreements\"). In its disclosure to PCI Pal, Sycurio's US lawyers confirmed that Sycurio had illegitimately shared confidential information with Sycurio personnel who were not covered by the Confidentiality Agreements.\n \nFurthermore, Sycurio have acknowledged that a number of their personnel, including senior product staff and board members, both internal and external, were involved in a board meeting during which Sycurio considered competitor technology and call flows, and that PCI Pal's confidential information \"may\" have been used in this session. This session also involved personnel from Sycurio's private equity owners, Livingbridge LLP.\n \nBackground\n \nAs part of the ongoing patent litigation in the UK, PCI Pal was obliged to prepare an explanation of how its patented technology had been implemented across its customer base and provide explanations as to how the systems are configured. As is required, the information was shared with Sycurio under strict Confidentiality Agreements.\n \nThe PCI Pal Board is shocked that Sycurio, who are themselves a provider of data security solutions, should have such weak controls that a data breach such as this could have happened. Furthermore, the PCI Pal Board is surprised at the time it has taken for it to be discovered and reported. It has taken Sycurio over a year to inform PCI Pal of the breach, therefore the full extent of how this confidential information has been used by Sycurio since April 2022 is not yet known.\n \nPCI Pal is consulting with its l...