Judge Approves Extension in Case Alleging Intellectual Property Impropriety by China-Based Genimous

GEORGE TOWN, Cayman Islands, Dec. 11, 2024 /PRNewswire/ -- a Judge in the Financial Services Division of the Grand Court has approved a one-year extension to an Amended Writ launching a sweeping derivative action against Genimous Technology Corporation, and its alleged co-conspirators (including Eightpoint Technologies Ltd SEZC ('Eightpoint'), East End Technologies Ltd ('EET'), Spigot Inc (now Eightpoint Interactive Inc), and Advanced Commercial Solutions Ltd ('ACS')).  The derivative action alleges that the Chinese company Genimous and its alleged co-conspirators misappropriated the computer code, data, and other intellectual property underlying apps belonging to Position Mobile in order to create copycat apps in Eightpoint, EET, and ACS.  The apps in question are currently available to install from the Google Play Store and Apple App Store.  While the Cayman based defendants have already been served with proceedings, the ruling on the extension will allow for service of process upon corporate and natural defendants located in the People's Republic of China, as well as the US, under the auspicious of The Hague Convention on Service Abroad of Judicial and Extrajudicial Documents.  Sources include judicial.ky/public-registers, play.google.com, apple.com/app-store, and technologyinvestmentconsortium.com.

About TIC and Position Mobile:  Position Mobile is a Cayman Islands company created to develop and market mobile apps. Technology Investment Consortium LLC is co-founder of and largest single shareholder in Position Mobile.

About Genimous Technology Corporation:  Genimous Technology Corporation is a listed company on the Shenzhen stock exchange in the PRC (symbol 000676.SZ).  It is chaired by Hongda Lu, a former member of the IPO committee of the CSRC.  Genimous, as well as it's US and Cayman subsidiaries, count Yahoo and other advertising networks as key partners to monetize its portfolio of apps, including multiple apps from Position Mobile.

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SOURCE Technology Investment Consortium, LLC