Rimini Street krijgt 50 miljoen dollar Oracle
LAS VEGAS–(BUSINESS WIRE)– Rimini Street, Inc. (Nasdaq: RMNI), de internationale provider van zakelijke softwareproducten en -services en toonaangevende externe verlener van ondersteunende diensten voor Oracle- en SAP-producten, verklaart in verband met een verzoekschrift dat onlangs is ingediend bij het Hof van Beroep van het negende circuit inzake Oracle vs. Rimini Street het volgende:
“Op 8 januari 2018 heeft het Hof van Beroep bepaalde toekenningen ten gunste van Oracle uit 2015 teruggedraaid, en andere opgeheven, waaronder een rechterlijk bevel dat reeds was opgeschort door de beroepsinstantie. Het Hof van Beroep heeft ook alle bevelen en vonnissen tegen Seth A. Ravin, CEO van Rimini street, nietig verklaard. Hoewel het jury-oordeel dat er sprake was van ‘onschuldige’ patentschendingen voor procedures die Rimini Street sinds juli 2014 niet langer uitvoert wordt onderkend, verklaarde het Hof van Beroep dat dat Rimini Street ‘diensten als derde partij verleende voor zakelijke software van Oracle, als legitieme concurrent van de directe onderhoudsservices die Oracle aanbiedt’.
Op 22 januari 2018 diende Rimini Street een verzoekschrift in voor een nieuwe zitting van het voltallige Hof van Beroep, met het doel nog eens 32 miljoen dollar (32 miljoen dollar bovenop de vergoeding van 50 miljoen die het Hof van Beroep heeft bevolen) van Oracle terug te krijgen.”
Rimini Street gaat verder met het terugvorderen van bijna 50 miljoen dollar van Oracle, overweegt nieuwe mogelijkheden voor een beroep (inclusief een proces voor het Hooggerechtshof van de Verenigde Staten) en zet zijn lopende proces tegen Oracle voort – inclusief de claims dat Oracle zich schuldig maakt aan illegale praktijken en concurrentievervalsing.”
Rimini Street to Receive Nearly $50 Million from Oracle
LAS VEGAS–(BUSINESS WIRE)– 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)
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 forward-looking statements include, but are not limited to, statements regarding our 2017 revenue guidance, industry, future events, future opportunities and growth initiatives, estimates of Rimini Street’s total addressable market, and projections of customer savings. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. 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, 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 litigation developments; inability to refinance existing debt on favorable terms; changes in taxes, governmental laws, and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the loss of one or more members of Rimini Street’s management team; failure to realize the anticipated benefits of the merger transaction with GPIAC, including difficulty in integrating the businesses of GPIAC and Rimini Street; uncertainty as to the long-term value of RMNI common stock; the inability to realize the expected amount and timing of cost savings and operating synergies; those discussed in Rimini Street’s Current Report on Form 8-K/A filed on November 9, 2017 and other documents Rimini Street has on file with the Securities and Exchange Commission. There may be additional risks that Rimini Street presently knows or that Rimini Street currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 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. 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.
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Contacts
Rimini Street, Inc.
Michelle McGlocklin, +1 925-523-8414
mmcglocklin@riministreet.com