Victory for PCI Pal in Court of Appeal
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PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to announce that the Court of Appeal for England & Wales has ruled in its favour in the unfounded patent litigation case brought by its competitor Sycurio Limited.
The Court of Appeal dismissed the appeal after just one day of the two day hearing, upholding the original ruling of the High Court announced by the Company on 25 September 2023. The High Court had ruled that Sycurio's patent was invalid due to obviousness from two sources of prior art, and that even if the patent had been valid, PCI Pal's Agent Assist solution would not have infringed. The Court of Appeal rejected Sycurio's argument that the judge had been wrong in her interpretation of the patent.
As announced on 26 January 2024, the High Court had made an interim award of costs to PCI Pal of £1.1 million which had been ordered to be held in escrow with the Company's lawyers pending completion of the Court of Appeal process. Today, the Court of Appeal indicated that it would make an order for the funds to be released from escrow to PCI Pal as soon as possible.
The Board expects a full ruling to be available publicly in the coming days following which time the Company will make a more detailed announcement, including the details of further costs that it will be seeking in relation to the appeal process.
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