Proceedings Against City Index

RNS Number : 0642D

Worldlink Group Plc

10 May 2012

 



10 May 2012

Update In Respect of Proceedings Against City Index

Worldlink Group Plc, (LSE: WGP) the UK listed Company with gatekeeper patents on providing changing data in real time for mobile devices announces an update in respect of its proceedings in the High Court against City Index Limited (City Index) for infringing its patent number GB2358768 covering the provision of real-time data to mobile devices (Claim No. HC12B00982). 

City Index provides real-time data for clients who undertake spread-betting through City Index on a variety of mobile platforms which included iPhone, Blackberry and Android.  The proceedings include a claim for an injunction to prevent further infringement and a claim for damages to reflect the loss in revenues to Worldlink since 2007.

Worldlink issued the claim as part of a programme designed to protect its rights to commercialise issued UK patent GB2358768. The formal commencement of proceedings came after communication with City Index over the past year did not result in firm progress towards City Index entering into a licence agreement from Worldlink.

Neil Riches, MD of Worldlink stated: "The stated position from City Index is that their platforms do work in the way we say they do, and that they effectively rely on our patented methods. However, they deny infringement because their case is that the Worldlink patent is invalid and have counterclaimed that the patent be revoked.  The decision to issue proceedings against City Index was taken following a written opinion from Alastair Wilson QC of Hogarth Chambers, one of the leading patent lawyers in the UK, and is being managed by Candey LLP, a leading firm of technology lawyers. As things currently stand we expect to put together our analysis of City Index's response prior to  a short hearing at Court in the near future to determine next steps."

For further information please contact:

Neil Riches                                                                                          01737 221 078

Managing Director

Worldlink Group Plc

Jon Belliss                                                                                            020 7101 7070

XCAP Securities plc.

Broker

Justin Rigby/Verity Hosken                                                          020 7148 6224

Polaris

Notes to Editors

About Worldlink

Worldlink is one of the UK's leading real-time mobile applications companies with patented technology that allows information held on the mobile device to be updated automatically without the need for a manual refresh. Information is delivered via a mobile telecommunications network in real time, whilst intelligently minimising the bandwidth required to transmit the data.  The technology is patent protected in the US and UK and is patent pending in Europe.

Worldlink has already licensed its patents to leading institutions in the financial and technology sectors and is furthering this process in the UK, US and Europe.

For more information about Worldlink and its businesses please visit www.worldlink-data.com.

 

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