Rimini Street Wins Unanimous Ruling; Supreme Court Orders Oracle to Return $12.8 Million
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 issued the following statement in response to the U.S. Supreme Court’s decision in Rimini Street v. Oracle:
“Today, the U.S. Supreme Court issued a unanimous decision of national significance in copyright law, reversing earlier decisions by lower courts and ruling that Oracle must return $12.8 million in non-taxable expenses (plus interest) that Rimini Street paid to Oracle in 2016. This refund is in addition to the $21.5 million that Oracle previously returned to Rimini Street, following a decision by the Ninth Circuit Court of Appeals on Rimini Street’s appeal of the judgment in the Oracle v. Rimini Street case. The decision resolves a nationwide split among federal appellate courts about the proper measure of costs in copyright litigation.
Today’s ruling corrects another significant legal error in the Oracle v. Rimini Street case that was tried in 2015. Oracle ultimately lost 23 out of its 24 claims that were brought in the suit, and Rimini Street was found liable only for “innocent” copyright infringement. Rimini Street CEO, Seth A. Ravin, was exonerated on all claims.
‘We are pleased with this latest victory in the highest Court, and look forward to continuing our fierce competition with Oracle in the marketplace by providing the best enterprise software support service and value for Oracle licensees worldwide,’ said Ravin.
Rimini Street continues to aggressively pursue its pending appeal in the U.S. Ninth Circuit Court of Appeals to recover an additional $28.5 million from Oracle, among other requested relief.”
Mark A. Perry of Gibson, Dunn & Crutcher LLP, who argued the case for Rimini Street in the Supreme Court, added: “The Supreme Court unanimously agreed with the structural, grammatical, and historical arguments that we advanced on behalf of Rimini Street, and rejected the contrary positions put forth by Oracle. The Court brought cost awards under the Copyright Act back into line with hundreds of other federal statutes.”
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, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,700 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 http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)
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 expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. 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, continued inclusion in the Russell 2000 Index in the future; 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; the final amount and timing of any refunds from Oracle related to our litigation; our need and ability to raise additional equity or debt financing on favorable terms; the terms and impact of our 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products; 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 discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on 10-Q filed on November 8, 2018, which disclosures amend and restate the disclosures appearing under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 15, 2018, and as updated from time to time by Rimini Street’s future Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and 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.
© 2019 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.
Rimini Street, Inc.
+1 925 523-8414
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Secure-D Exposes Suspicious Android App with 500 Million Downloads22.5.2019 13:49:00 CEST | Pressemelding
Upstream, a leading mobile technology company, has unveiled that the popular Android application VidMate triggers suspicious background activity. Hidden software within the app delivers invisible ads, generates fake clicks and purchases, installs other suspicious apps without consent and collects personal users’ information. Consequently, it depletes users’ data allowance and brings unwanted charges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005501/en/ With over 500 million downloads reported, VidMate is a popular Android application for streaming and downloading videos and songs from services such as Dailymotion, Vimeo, and YouTube. It is not available in the Google Play Store but is distributed through third-party app stores like CNET or Uptodown. According to publicly available information, VidMate was developed by a subsidiary of UC Web, which is owned by Chinese conglomerate Alibaba. Over a recent period Upst
Airship’s Data Study Reveals the State of Global Mobile Permissions One Year into GDPR22.5.2019 13:35:00 CEST | Pressemelding
With GDPR reaching its one year anniversary May 25, customer engagement company Airship today revealed top-level results of its global benchmark study, examining the state of mobile app user permissions across nearly 700 million people worldwide. While marketers trimmed customer lists to meet new regulatory requirements for "traditional" channels (i.e., email), mobile app audiences continue to grow — up globally by +16.6 percent year over year. Businesses are also sending more notifications — averaging 36 per user per month (up 18.4 percent since last year) — while the average notification opt-in rate remains high at over two-thirds (67 percent) of global app users. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005486/en/ With mobile app audiences growing around the world, businesses are more heavily leveraging notifications with negligible impact to opt-in rates. (Graphic: Business Wire) These metrics vary at a regio
Diligent Launches Modern Governance to Address Dangerous Governance Deficits and Announces New Modern Governance Summit22.5.2019 13:27:00 CEST | Pressemelding
Today, Diligent Corporation launched a new category, called modern governance, designed to provide leaders with the missing key to bring governance into the digital age, along with new technology and a summit to support this well-designed system. Modern governance is the practice of empowering leaders with technology, insights, and processes to fuel good governance that organizations require to thrive and endure. Modern governance helps organizations address governance deficits. A governance deficit means an organization lacks the security, foresight, and accountability to withstand the onslaught of contemporary challenges – such as activist investors, cyber risk, regulation, diversity and global uncertainty. Feedback from Diligent’s 16,000 clients and the 600,000 leaders who use its technology – including more than 50% of the Fortune 1000, 70% of the FTSE 100, and 65% of the ASX – sparked the need for rethinking how companies and their boards should approach governance to navigate tod
Wipro Builds a Blockchain-Based Solution for Travacoin to Enable Digital Currency-Based Payments for the Airline Industry22.5.2019 12:19:00 CEST | Pressemelding
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that it has developed a blockchain-based payment solution for Travacoin, a company specializing in an eponymous digital payment solution. Travacoin is a digital payment system which enables airlines to refund and compensate passengers in a timely manner when a disruption occurs. Passengers will be notified of a delay or cancellation and refunded in this digital currency, which can be used to repurchase airline tickets, book hotels and avail other airport and travel related services. Passengers will benefit by way of a significant reduction in the waiting time for compensation. In addition, passengers can use Travacoins at retail stores in and around the airport and avail attractive discounts offered by retail partners. By compensating passengers with Travacoins, airlines will be able to reduce their administrative overheads and
New Fluid Dispensing Guide for Stock Lubrication and Metal Stamping from Nordson EFD22.5.2019 12:15:00 CEST | Pressemelding
Nordson EFD , a Nordson company (NASDAQ: NDSN), the world’s leading precision fluid dispensing systems manufacturer, has released a new solutions guide for stock lubrication and metal stamping. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005010/en/ The Stock Lubrication Solutions Guide is an overview of how Nordson EFD’s MicroCoat® lubrication system provides more consistent oil coverage and significantly reduces oil waste by up to 90%. By doing so the system quickly pays for itself by extending tool life and reducing oil usage, thus lowering waste disposal costs. In the guide, eight MicroCoat customers share application details that illustrate the benefits of the system’s Low Volume Low Pressure (LVLP) technology. Each customer has a different application with different problems to solve. “Our MicroCoat system is truly the first stock lubrication system to provide consistent oil coverage without overspray,” said Cl
Altasciences Leads Research on Chemical Nerve Agent Therapeutic from Preclinical to Clinical Phase I22.5.2019 12:04:00 CEST | Pressemelding
Altasciences announced today that they have been selected by Leidos Health to guide and support the development of RAP-103 peptide as a chemical nerve agent therapeutic on behalf of the Medical CBRN Defense Consortium and funded by the Defense Threat Reduction Agency (DTRA). Altasciences will conduct the required Safety Testing, all IND-enabling studies (non-GLP and GLP), the necessary Phase I clinical trials, and associated bioanalytical analysis. “Altasciences’ preclinical and clinical teams are collaborating with Leidos Health on this important program. Together, we have developed a plan to move RAP-103 from preclinical, safely through early clinical trials. As a mid-size CRO specializing in a flexible, innovative approach to providing comprehensive early stage drug development, we have the experience and team in place to complete this program successfully, on time and within budget,” explained Steve Mason, Vice President, Site Operations, at Altasciences. For over 25 years, Altasci