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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
IVG Premium E-Liquids Announces Strategic Partnership with Kollaras & Co25.3.2019 12:02:00 EET | Tiedote
IVG Premium E-Liquids, the UK’s market-leading brand, has announced a strategic partnership with globally renowned Kollaras & Co – A 3rd generation, family owned and operated business. Kollaras & Co specialises in supporting independent retailers across multiple channels in Australia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190325005029/en/ IVG Premium E-Liquids Announces Strategic Partnership with Kollaras & Co (Photo: Business Wire) Kollaras & Co have landed the master distribution rights for IVG products within Australia, which will allow vapers from down under to join vapers from over 60 countries and 6 continents that vape premium British flavours from IVG. John Kollaras, Managing Director of Kollaras & Co, commented that the alliance was an important step for the near 60-year-old business, commenting “We are thrilled to partner with IVG, as we continue to strive to provide a unique offering within our portfolio,
Fiorano Partners with Konsentus to Lower Costs and Risks Associated with PSD2 Compliance25.3.2019 12:00:00 EET | Tiedote
Fiorano Software, a leading Enterprise Middleware, Integration and API Management specialist, announced today that it has added Third Party Provider (TPP) Identity & Regulatory checking services from Konsentus, a UK based Regtech company providing live SaaS-based APIs to check TPP identity & regulatory status, to its ready-to-deploy PSD2 platform to provide enhanced support to Financial Institutions (FIs) working towards PSD2 compliance. Biju Suresh Babu, Global Open Banking lead, Fiorano comments, "Having recently launched the Fiorano PSD2 Accelerator , which is designed to provide FIs (ASPSPs in PSD2 terms) with the technology required to meet PSD2 open banking regulatory obligations as a pre-integrated bundle, we are delighted to be able to offer our customers a unique solution to solve their specific challenges around TPP identity and regulatory checking.” Whilst the first major deadline passed on 14th March, whereby FIs had to make their ASPSP interfaces available for external tes
TSG Consumer Partners Opens London Office25.3.2019 11:30:00 EET | Tiedote
TSG Consumer Partners (“TSG”), a leading private equity firm focused exclusively on the branded consumer sector, today announced that it has opened an office in London, its first office outside the U.S. TSG’s presence in London deepens its commitment to the European market and enhances the firm’s ability to identify and execute on compelling investment opportunities in the region. TSG’s foothold in Europe comes following a series of investments in leading European companies such as Revolution Beauty – which was recently named the third fastest growing private company by the Sunday Times Fast Track 100 – BrewDog, Canyon Bicycles, Bergfreunde.de, as well as ZOEVA and HUDA Beauty, both of which opened offices in London last year. Beth Pickens, former Managing Director and head of European consumer banking at William Blair, has joined TSG as a Principal based in London. Colin Welch, Partner and Managing Director at TSG, is responsible for guiding the new office located in Mayfair. “Europe
ITER Organization Chooses Bertin Technologies to Design a Density Interferometer Polarimeter25.3.2019 10:30:00 EET | Tiedote
Bertin Technologies , a subsidiary of CNIM Group , has received a contract from ITER Organization for the preliminary design of the “Density Interferometer Polarimeter” (DIP), a complex optical diagnostic system that measures plasma density during nuclear fusion reactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190325005118/en/ “Density Interferometer Polarimeter” (DIP) Copyright Bertin Technologies This is a key component of the tokamak reactor’s future diagnostic instruments. The purpose of the DIP will be to help control plasma by measuring the density of the electrons in order to ensure its stability and obtain an optimal energy yield. Optical instrumentation design and manufacturing, such as the DIP technology, are key areas of excellence at Bertin Technologies, the French leader of industrial innovation for this field. Collaborating with the ITER program since 2009, through contracts with the ITER Organization
Continuing Its Collaboration with ITER Organization, CNIM is Designing and Manufacturing High-Precision Handling Equipment to Assemble Components of the Future Fusion Reactor25.3.2019 10:30:00 EET | Tiedote
CNIM has announced the launch of the third phase of the Purpose Built Tools (PBT) framework agreement signed with ITER Organization in December 2016. This agreement covers the engineering, manufacturing and installation of special tools for the installation of ITER Tokamak. It entails the design and manufacture of extremely large lifting systems to handle parts weighing up to 4 metric tons. These structures, comprising two 8-level towers (18 meters tall) weighing some 40 metric tons, will equip the Sector Sub-Assembly Tools (SSAT). The SSATs will be used to assemble each sector of the vacuum chamber of the fusion reactor before its transfer to the reactor building where they will all be assembled. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190325005051/en/ 1250 tons cryostat handling system (c) CNIM Under the same contract, CNIM has also been entrusted with defining nine types of special, strategic tools for ITER. These
Panasonic’s Next-generation HD-PLC®*1, BPL Communication Technology Adopted as IEEE 1901a Standard25.3.2019 05:14:00 EET | Tiedote
On March 25, 2019, Panasonic Corporation announced that the IEEE Standards Association has approved the company’s next-generation broadband over powerline (BPL) communication technology for Internet of Things (IoT) as the IEEE 1901a Standard on March 21, 2019 at the Standards Board meeting in Munich, Germany. The company proposed the technology to the IEEE Standardization 1901a Working Group*2 in June 2018. This standard flexibly meets various demands for IoT-related services. IEEE 1901a, BPL communication standard for IoT enables to control frequency bands according to usage. It allows scalable communications with features to extend communication distances and to select speeds. The flexible features defined in this standard enable to address the diverse communication needs of IoT-related services. It implements the following new functions based on the Panasonic original HD-PLC ® Wavelet OFDM technology (standard mode), already adopted in the IEEE 1901-2010 standard. The standard mode
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme