Rimini Street Inc.
09/25/2024 | Press release | Distributed by Public on 09/25/2024 06:00
Material Event Form 8 K
| ITEM 8.01 |
OTHER EVENTS
|
On September 23, 2024, the United States District Court for the District of Nevada (the "District Court") entered an order regarding the motion for attorneys' fees and costs filed on November 6, 2023 by Oracle America, Inc. and Oracle International Corp. (together, "Oracle") in Case Number 2:14-cv-01699-MMD-DJA ("Rimini II") filed by Rimini Street, Inc. (the "Company") against Oracle in 2014.
In its motion, Oracle requested attorneys' fees and costs totaling approximately $70.6 million relating to the Rimini II litigation. The Company argued in its responsive filings that it did not believe any attorneys' fees and costs were owed, or, at the most, approximately $14.5 million. The District Court awarded Oracle approximately $58.5 million in attorneys' fees and costs, and the Company expects to pay Oracle the award on or before the due date of October 23, 2024.
The Company respectfully disagrees with the District Court's award of attorneys' fees and costs to Oracle, and on September 24, 2024, the Company filed a notice of its appeal of the award. The Company reserves all rights, including appellate rights, with respect to the Rimini II litigation.
All information in this Item 8.01 is presented as of the date of this Report and not any future date, and the Company does not undertake any obligation to, and disclaims any duty to, update any of the information provided.
Please see the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, as filed with the United States Securities and Exchange Commission (the "SEC") on July 31, 2024, for additional information and disclosures relating to the Company's litigation with Oracle.
Cautionary Note Regarding Forward-Looking Statements
This Report includes forward-looking statements. All statements other than statements of historical facts contained in this Report, including statements regarding our business strategy and plans, are forward-looking statements. The words "expect," "intend" and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, but are not limited to, information concerning the Company's appeal of the award of attorneys' fees and costs to Oracle and the timing of the Company's payment to Oracle, in each case as described above.
You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements in this Report are made as of the date of the filing, and except as required by law, we disclaim and do not undertake any obligation to update or revise publicly any forward-looking statements in this Report. You should read this Report and the documents that we reference in this Report and have filed with the SEC as exhibits with the understanding that our actual future results, levels of activity and performance, as well as other events and circumstances, may be materially different from what we expect.