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Oracle Abandons Its Largest Copyright Damages Theory Against Rimini Street

Oracle drops its $210 million Fair Market Value copyright damages theory
Rimini Street asserts Oracle’s primary remaining copyright damages theory of Lost Profits is without merit
Rimini Street experts calculate Oracle damages, if any, less than $9 million

LAS VEGAS, July 16, 2015 Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion and Oracle Retail, today issued a statement regarding damages claims made by Oracle in Oracle USA, Inc., et al. v. Rimini Street, Inc. et al., Civil No. 2:10-cv-00106-LRH-PAL (U.S. District Court of Nevada).

Statement:

Oracle has suffered yet another significant setback in its decade long fight against competition and in the company’s nearly six year litigation against leading global independent software support provider Rimini Street.

In a recent Court filing, in response to challenges raised by Rimini Street, Oracle abandoned its biggest damages theory of copyright infringement for its PeopleSoft, JD Edwards and Siebel-branded software products based on fair market value, measured by hypothetical license or income approach, to “streamline” the issues for trial.

Accordingly, Oracle has withdrawn the $210 million damages associated with its fair market value theory. Oracle’s primary remaining copyright damages theory in the case is for lost profits, where Rimini Street asserts Oracle’s theory is without merit due to a complete lack of proof of causation.

At trial, Rimini Street will introduce expert testimony that Oracle copyright damages if Oracle can prove any damages at all are less than $9 million.

If the Court, following any appeals, determines that Rimini Street did indeed infringe Oracle’s intellectual property rights with any of its support processes, Rimini Street stands ready and willing to take full responsibility and fairly compensate Oracle for any proven damages, and is committed to correcting any related processes in accordance with Court guidance.

Rimini Street looks forward to its day in court as it strives to reach conclusion with Oracle. In the meantime, Rimini Street continues to deliver the highest value support and ultra-responsive service to its clients, expand its capabilities around the globe and continues leading the independent enterprise software maintenance market with its new, innovative class of enterprise support services.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 3,500 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit https://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and as updated from time to time by other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Investor relations contact:

Dean Pohl

Rimini Street, Inc.

+1 925-523-7636 dpohl@riministreet.com
Media relations contact:

Michelle McGlocklin

Rimini Street, Inc.

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