Rimini Street Statement on Court Ruling on Motions for Partial Summary Judgment
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of business software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, issued the following statement in response to the U.S. District Court’s ruling on motions for partial summary judgment:
“Today, the U.S. District Court for Nevada issued its ruling on the summary judgment motions filed by Rimini Street and Oracle in Rimini Street v. Oracle, (No. 2:14cv-01699-LRH), a lawsuit brought by Rimini Street against Oracle in 2014. The summary judgment motions were filed in, and have been pending with, the Court since December 2018.
In the ruling, the Court reiterated that Rimini Street has the legal right to provide aftermarket support for Oracle’s enterprise software. The Court also resolved some of the issues the parties have disputed, ruling in some instances for Rimini Street and in some instances for Oracle. Rimini Street is continuing to evaluate the order and looks forward to a jury trial on the remaining issues.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. Over 2,100 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries rely on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.
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. All statements pertaining to Rimini Street’s expectations regarding the expected use of proceeds from the offering described in this press release constitute forward-looking statements. 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, the duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, 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; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects to introduce in the near future; 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 risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and in the prospectus supplement dated August 14, 2020 relating to the underwritten public offering of Rimini Street’s common stock that closed on August 18, 2020 and as updated from time to time by 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.
© 2020 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
About 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.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Universal Peace Federation: 70 Years After the Korean War World Leaders Call for Peace at Online Rally of Hope24.11.2020 19:19:00 CET | Press release
Millions of viewers tuned into hundreds of broadcast stations and gathered online to call for peace among and between nations at the third Rally of Hope sponsored by the Universal Peace Federation (UPF) in Korea on Sunday, Nov. 22. UPF was founded in 2005 by Rev. Dr. Sun Myung Moon and Dr. Hak Ja Han Moon and is an NGO in General Consultative Status with the United Nations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201124005906/en/ Dr. Hak Ja Han Moon addresses live audience and online participants from all around the world at the Rally of Hope (Photo: Business Wire) Mrs. Moon announced two new projects: to set up Korean War memorials in those nations that do not yet have them and create an online registry of all those who sacrificed in any way to support Korea during its darkest hour. “All around the world, unforeseen and unexpected challenges are erupting in the realms of politics, economy and religion” she said. “We
Verimatrix Chief Revenue Officer Named to SportsPro OTT Summit Advisory Board24.11.2020 17:45:00 CET | Press release
Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Lu Bolden, Chief Revenue Officer, was named to the SportsPro OTT Summit Advisory Board, the group that shapes one of world’s most prominent sports broadcasting annual events. The second annual event takes place December 2-3, 2020. Organized by SportsPro Media, this year’s virtual SportsPro OTT Summit is the preeminent venue for learning the latest in strategy, content and technology trends in the sports broadcasting market. The OTT Summit Advisory Board reads as a who’s who of the digital sports broadcasting realm, including executives from the UFC, NFL, MotoGP, Fox Sports, DAZN, PGA Tour, Canal+, Formula One, NBC Sports and the International Olympic Committee. Bolden brings to the group the needed expertise in how to easily deliver excellent fan experiences on any device while also securely scaling during popular live eve
ender diagnostics Receives FDA Notification for Rapid and Reliable COVID-19 Tests24.11.2020 15:41:00 CET | Press release
The two ender COVID-19 tests received the FDA notification, marking the entry of the Swiss company into the US market. With the continued surge of COVID-19 cases in the US, the American subsidiary of ender diagnostics, ENDER DIAGNOSTICS NORTH AMERICA, is ready to deliver rapid and reliable COVID-19 testing kits to diagnostic laboratories wishing to increase their testing capacities. The company is proud to be actively contributing to successfully manage the pandemic. The ender products are highly accurate and fast, allowing laboratories to increase their throughput significantly. ender LAB and ender MASS arein-vitro diagnostic test kits based on a rapid molecular isothermal nucleic acid amplification technology. Both ender LAB and ender MASS are designed for use by laboratory professionals or trained operators on standard real-time PCR devices. For ender LAB, the result is provided within 30 minutes after the extraction of the viral RNA, which makes it significantly faster than typical
LBC Tank Terminals Holding Netherlands B.V. Announces Q1 FY21 Financial Results Conference Call24.11.2020 15:06:00 CET | Press release
LBC Tank Terminals announced today that a conference call will be held to discuss the company’s financial results for Q1 FY21 which ended on 30 September 2020. The results will be published today, Tuesday 24 November 2020, followed by a conference call for all investors on Tuesday, 1 December 2020 at 16:00 (Central European Time) / 10:00 (Eastern Standard Time). Call details and copies of the financial statements will be made available on the Intralinks website. Investors of LBC Tank Terminals Holding Netherlands B.V. Senior Notes, due 2023, can request access to Intralinks by contacting email@example.com. LBC Tank Terminals LBC Tank Terminals, with its headquarter in Belgium, is an independent operator of midstream and downstream bulk liquid storage facilities for chemicals, oils and refined petroleum products currently owning and operating seven terminals located in Houston, Freeport, Baton Rouge, Antwerp and Rotterdam with combined storage capacity of 2.6 million m³, serving over
BentallGreenOak’s Global Real Estate Investment Platform Receives Top Accolades in the 2020 Global Real Estate Sustainability Benchmark (GRESB), Marking 10 Years of Leadership in ESG24.11.2020 15:00:00 CET | Press release
BentallGreenOak (BGO) announced today that its global real estate investment platform has again achieved top global rankings in the annual Global Real Estate Sustainability Benchmark (GRESB). The 2020 rankings mark the 10th straight year of outstanding leadership in ESG worldwide for BGO. The firm’s increased focus on asset resilience as an important element in its investment management strategy for its clients has resulted in several BGO accounts being ranked 1st overall in the world out of 412 participants in GRESB’s Resilience Module. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201124005284/en/ The BGO Diversified US Property Fund continued its leadership streak from 2019, ranking 1st in the U.S. Diversified, Core peer group, 2nd overall in the Americas, Diversified sector and 4th globally for the Diversified, Non-listed, Core peer group. The Sun Life General Account scored its best result ever, placing 2nd in Canada a
Digital Storytelling Platform ALEXANDER Launches with All-Star Cast24.11.2020 15:00:00 CET | Press release
Alexander is the digital home of original non-fiction stories from around the world. Bringing together some of the world’s most respected creative talent, Alexander’s feature stories are commissioned from acclaimed global authors and journalists and give unique access to fascinating places, cultures and people. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201124005565/en/ Using the Alexander mobile app, every original feature is presented in multiple storytelling dimensions—a commissioned written story, an audio performance and a super short film. The crafted film introduces the setting, teases the subject and sets the mood. Audiences then transition into the full story and can read, listen or move seamlessly via The Toggle, a proprietary text-to-audio functionality, between the written word and the audio performance. The convergence creates an immersive storytelling experience that meets the high expectations of discernin