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, provided the following statement relating to Rimini Street v. Oracle, which is currently pending before the United States Supreme Court:
“The Solicitor General of the United States recently filed an amicus curiae brief in the United States Supreme Court case of Rimini Street v. Oracle. The Solicitor General’s brief endorses Rimini Street’s interpretation of the Copyright Act’s cost-shifting provision, concluding that ‘[Oracle’s] contrary reading … stretches [the statute] beyond what its text can bear.’ The brief further concludes that the U.S District Court award of $12.8 million in non-taxable litigation expenses to Oracle, and the subsequent affirmance by the Ninth Circuit Court of Appeals, were erroneous and should be reversed.
The case is expected to be argued in early 2019. If the Supreme Court reverses the decision, Oracle will be ordered to refund the $12.8 million to Rimini Street. This refund would be in addition to the $21.5 million Oracle was previously ordered to refund to Rimini Street by the Ninth Circuit Court of Appeals, which Oracle paid in March 2018.
Rimini Street has appealed the decision of the Ninth Circuit Court of Appeals affirming an award of non-taxable costs as part of the final judgment awarded to Oracle in 2016. On September 27, 2018, the Supreme Court granted Rimini Street’s petition for review. On appeal, Rimini Street argues that the award of $12.8 million in non-taxable costs is in direct conflict with decisions of other federal circuit courts and the Supreme Court.
In addition to the United States Solicitor General, the prestigious American Intellectual Property Law Association also filed an amicus curiae brief in the case, stating that ‘[t]he interests of the copyright registration system, certainty, and predictability weigh against permitting … [statutory] awards for non-taxable costs. This constraint provides greater uniformity and better aligns with the policies underlying the Copyright Act.’
Rimini Street’s position is also supported in amici curiae briefs filed by Professor Patrick Gillen, a scholar who has written on the history and scope of federal cost-shifting statutes, and a group of law school professors and scholars of corpus linguistics, who research the use and meaning of language. All of these amici curiae argue that the Ninth Circuit Court of Appeals decision was erroneous.
Rimini Street looks forward to the argument before the Supreme Court, and is confident that it will result in a reversal of the Ninth Circuit Court of Appeals judgment on non-taxable costs, achieve national consistency to interpretation of the Copyright Act by courts, and bring the refund of $12.8 million previously paid by Rimini Street to Oracle in 2016.”
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. (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 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.
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