Rimini Street to Receive Nearly $50 Million from Oracle
LAS VEGAS, March 6, 2018 - Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today provides the following statement related to a petition recently filed with the United States Court of Appeals for the Ninth Circuit in Oracle vs. Rimini Street:
"On January 8, 2018, the Court of Appeals reversed certain awards made in Oracle's favor during and after our 2015 trial, and vacated others, including an injunction that had already been stayed by the appellate court. The Court of Appeals also overturned all orders and judgments against Rimini Street's CEO, Seth A. Ravin. Further, while affirming the jury's finding of 'innocent' copyright infringement for processes that Rimini Street confirms are no longer in use since at least July 2014, the Court of Appeals also affirmed that Rimini Street 'provided third-party support for Oracle's enterprise software, in lawful competition with Oracle's direct maintenance services.' The favorable appeal decision should result in a refund of nearly $50 million to Rimini Street from Oracle.
On January 22, 2018, Rimini Street filed a petition for a rehearing en banc with the Court of Appeals to recover up to an additional $32 million from Oracle ($32 million over and above the nearly $50 million refund ordered by the Court of Appeals). On March 2, 2018, the Court of Appeals denied the rehearing petition.
Rimini Street will move forward to recover the court-ordered refund of nearly $50 million from Oracle, consider further appeal options (including a potential appeal to the United States Supreme Court) and continue to prosecute its pending litigation against Oracle - including its claims that Oracle has engaged in illegal and anticompetitive practices and conduct."
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products. The company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, SAP and other enterprise software vendors to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,450 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit https://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)
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