U.S. Appeals Court Rules Favorably for Rimini Street
Decision should result in refund of up to nearly $50 million to Rimini Street.
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 decision entered by the United States Court of Appeals for the Ninth Circuit in Oracle vs. Rimini Street:
"Today, 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. Rimini Street should eventually receive a refund of up to nearly $50 million of the judgment previously paid by Rimini Street to Oracle.
The appellate court also overturned all awards and judgments against Rimini Street's CEO, Seth A. Ravin.
The Court of Appeals, while affirming the jury's finding of 'innocent' copyright infringement for processes that Rimini Street claims are no longer in use since at least July 2014, stated that Rimini Street 'provided third-party support for Oracle's enterprise software, in lawful competition with Oracle's directed maintenance services.'
Rimini Street will continue to prosecute its pending claims against Oracle for, amongst other claims, what Rimini Street believes are illegal anticompetitive practices."