|Over a week ago|
Oracle says Rimini Street 'distorts court ruling' » 13:3504/0104/01/21
Oracle (ORCL) issued the…
Oracle (ORCL) issued the following statement: "Rimini Street today took its deceptive business practices described in Oracle's litigation against Rimini Street to new heights, proclaiming that its unequivocal loss in US District Court was actually somehow a victory. Its recent statement is nothing more than a convoluted attempt at public relations damage control. For the record, the District Court District of Nevada ruled decisively - in its own words - that 'by clear and convincing evidence, that Rimini Street is violating the permanent injunction' issued on August 14, 2018. More humiliating yet, the court also ordered Rimini Street to explain why it should not be held in contempt for plainly violating the injunction in connection with its PeopleSoft support offerings. Yet by Rimini Street's reasoning, losing is winning, up is down, and ignorance is strength. Its statement is indeed another attempt at bamboozling its customers into believing its services are a viable, ethical business model. Trying to paint this resounding defeat as victory is the same approach to business and transparency that got them in legal trouble in the first place."
Court says no finding of infringement of Rimini Street, denying Oracle claims » 10:0404/0104/01/21
Rimini Street (RMNI)…
Rimini Street (RMNI) issued the following statement in response to a recent court order in the decade-long litigation between Rimini Street and Oracle (ORCL), where the courts have found that third-party support and customization of enterprise software is permitted, Oracle licensees have a choice of support vendors and, as stated by the United States Court of Appeals, Rimini Street provides third-party support for Oracle's enterprise software in lawful competition with Oracle's direct maintenance services: "On March 31, 2021, the United States District Court for Nevada issued an order resolving many outstanding disputes between the parties related to a permanent injunction that has been in place since 2018. The injunction does not prohibit Rimini Street's provision of support services for any Oracle product lines, but rather defines the manner in which Rimini Street can provide support services for certain Oracle product lines. Most importantly, the court affirmed that there has been no finding of infringement by the court of the company's enterprise software support Process 2.0 or Automation Framework tools, finding that, as Rimini Street requested when it filed the Rimini Street v. Oracle litigation in 2014, those issues will be heard and decided by a jury. Additionally, the court ruled in the company's favor on the ability of Rimini Street's engineers to learn and gain experience from their work. Oracle has claimed that Rimini Street engineers infringe Oracle's copyrights and violate court orders by merely applying their learning and using know-how gained supporting one client to support other clients running the same licensed software. Building on the Court's previous denial of these Oracle claims, the Court further noted in its most recent order that 'it is common sense that Rimini's engineers would get better and faster at conducting a task with more experience.' The Court also clarified and affirmed other important provisions of its previous and most recent orders in Rimini Street's favor while denying Oracle claims, stating that accepting some of Oracle's claims would result in an 'absurd result.' The Court also denied Oracle's motions for sanctions, noting that it did not find any inappropriate conduct by Rimini Street and therefore found no basis for any sanctions. The court did find that Rimini Street has violated the injunction in certain narrow instances and circumstances, including with respect to two deliverables relating to two specific clients in 2014 and 2015. However, the cited activities for these two specific deliverables occurred before the injunction was in place and therefore cannot be a violation of the injunction. The court has scheduled an evidentiary hearing in September 2021."
|Over a month ago|
Rimini Street 7.75M share Spot Secondary priced at $7.75 » 07:3203/0903/09/21
Craig-Hallum acted as…
Craig-Hallum acted as sole book running manager for the offering.
Fly Intel: After-Hours Movers » 18:3103/0803/08/21
FLL, INVO, SFIX, SFT, PRTS, FPAY, SMSI, CDMO, CLAR, WTRH, MWK, SNCR, GRBK, NCMI, CSTL, BNFT, VET, ACAD, RMNI, SJW, ITRI
Check out this evening's…
Rimini Street files to sell common stock, no amount given » 16:0203/0803/08/21
Craig-Hallum Capital Group is acting as the sole book-running manager for the offering.
Fly Intel: After-Hours Movers » 18:4003/0303/03/21
AEO, RMNI, SPLK, HRTG, SBOW, SNOW, KNSA, YEXT, VRM, OKTA, AES, MRVL, CFMS, RADA, LASR
Check out this evening's…
Rimini Street sees FY21 revenue $370M-$380M, consensus $366.51M 16:0703/0303/03/21
Rimini Street sees Q1 revenue $87.5M-$88.5M, consensus $85.72M 16:0703/0303/03/21
Rimini Street reports Q4 EPS (4c), consensus (8c) » 16:0603/0303/03/21
Reports Q4 revenue…
Reports Q4 revenue $87.8M, consensus $83.26M. For the fourth quarter and full year 2020, we continued to execute well against our strategic growth plan to achieve $1 billion in annual revenue by 2026 and exceeded quarterly and full year guidance. We accelerated year-over-year revenue growth for the fourth quarter from 11.7% to 15.4% and for the full year 2020 from 10.9% to 16.3%, respectively, achieved record quarterly and full year results for revenue, new sales invoicing, Calculated Billings, backlog and total gross profit and maintained a Revenue Retention rate of over 90 percent," stated Seth A. Ravin, Rimini Street co-founder, CEO and chairman of the board. "Throughout the year, we continued making investments - including key executive leadership additions - to take advantage of growing global demand for Rimini Street's support solutions, including our new application management, security, interoperability and professional services."
Rimini Street in CMA pact with New Zealand Government Marketplace » 13:0902/0802/08/21
Rimini Street announced…
Rimini Street announced it has become an approved supplier on the New Zealand Government Marketplace through a Collaborative Marketplace Agreement, CMA. As an approved supplier on Marketplace, Rimini Street has completed the open primary procurement process so agencies can now more easily procure the Company's services and do not need to spend the time and effort to negotiate their own contract terms or pricing. While Rimini Street already works with a number of government agencies in New Zealand, including the University of Auckland, the new agreement has the potential to generate significant additional savings on enterprise software support for New Zealand's government agencies at all levels, from local to central and including universities and schools. The agreement can be accessed online by agencies at www.marketplace.govt.nz. These agencies will now have greater access to Rimini Street's services including the provision of support and maintenance for Oracle, SAP and Salesforce enterprise software implementations. Last year, Rimini Street signed a Whole-Of-