LAS VEGAS - Friday, July 17th 2015 [ME NewsWire]
• Oracle drops its $210 million Fair Market Value copyright damages theory
• Rimini Street asserts Oracle’s primary remaining copyright damages theory of Lost Profits is without merit
• Rimini Street experts calculate Oracle damages, if any, less than $9 million
(BUSINESS WIRE)-- Rimini Street, Inc., the leading independent provider of enterprise software support for SAP AG’s (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Hyperion and Oracle Retail software, today issued a statement regarding damages claims made by Oracle in Oracle USA, Inc., et al. v. Rimini Street, Inc. et al., Civil No. 2:10-cv-00106-LRH-PAL (U.S. District Court of Nevada).
Statement:
Oracle has suffered yet another significant setback in its decade long fight against competition and in the company’s nearly six year litigation against leading global independent software support provider Rimini Street.
In a recent Court filing, in response to challenges raised by Rimini Street, Oracle abandoned its biggest damages theory of copyright infringement for its PeopleSoft, JD Edwards and Siebel-branded software products based on fair market value, measured by hypothetical license or income approach, to “streamline” the issues for trial.
Accordingly, Oracle has withdrawn the $210 million damages associated with its fair market value theory. Oracle’s primary remaining copyright damages theory in the case is for lost profits, where Rimini Street asserts Oracle’s theory is without merit due to a complete lack of proof of causation.
At trial, Rimini Street will introduce expert testimony that Oracle copyright damages — if Oracle can prove any damages at all — are less than $9 million.
If the Court, following any appeals, determines that Rimini Street did indeed infringe Oracle’s intellectual property rights with any of its support processes, Rimini Street stands ready and willing to take full responsibility and fairly compensate Oracle for any proven damages, and is committed to correcting any related processes in accordance with Court guidance.
Rimini Street looks forward to its day in court as it strives to reach conclusion with Oracle. In the meantime, Rimini Street continues to deliver the highest value support and ultra-responsive service to its clients, expand its capabilities around the globe and continues leading the independent enterprise software maintenance market with its new, innovative class of enterprise support services.
About Rimini Street, Inc.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for at least 15 years. Over 1000 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com
Forward-Looking Statements
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2015. All rights reserved.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150716006624/en/
Contacts
Rimini Street, Inc.
Michelle McGlocklin, +1 925-523-8414
mmcglocklin@riministreet.com
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