Supreme Court rejects appeal: Tziki Fox to pay 17 million shekels to Czech investment company

The Supreme Court rejected the appeal of Tziki Kurland Fox, founder of the cybersecurity company Bio Nexus, and ordered him to pay 17.3 million shekels to the Czech investment company Springtide Ventures. The Supreme Court upheld the ruling of Judge Yaakov Sharvit of the Tel Aviv Economic Court, who determined that Fox committed fraud against Springtide by presenting false representations and fictitious documents on the basis of which millions of dollars were invested in the company. Springtide, an investment arm of the KKCG fund, invested $5 million in Bio-Nexus in 2016-2017. The Supreme Court rejected Fox's claim that he acted according to the instructions of the investor's representative, Mark Yablonsky, and ruled that even someone who cooperates with a breach of fiduciary duty may bear responsibility. Judge Yechiel Kasher emphasized that this is a 'warning sign' for the business world. Fox was ordered to pay 35,000 shekels in legal costs.