Rimini Street wins court ruling over $58.5 million fee dispute

Today, Rimini Street , Inc. (NASDAQ:RMNI), a $295 million market cap enterprise software support provider whose stock has surged over 50% in the past six months, announced a significant legal development in its ongoing litigation with Oracle Corporation. According to a press release, the United States District Court for the District of Nevada vacated its previous order that awarded Oracle approximately $58.5 million in attorneys’ fees and costs. This decision follows a remand from the United States Court of Appeals for the Ninth Circuit. InvestingPro analysis suggests the company is currently undervalued, with analysts setting price targets between $4 and $7.

The legal dispute, known as "Rimini II," originated in October 2014 when Rimini Street filed a case against Oracle. The recent order, dated June 2, 2025, nullifies the District Court’s earlier judgment from September 23, 2024, which had favored Oracle in the fee dispute. Rimini Street’s appeal had challenged this award, leading to the current outcome.

Rimini Street, a provider of enterprise software support services, is incorporated in Delaware and is headquartered in Las Vegas, Nevada. The company trades on the Nasdaq Global Market under the symbol RMNI.

The details of the court’s decision are included in an exhibit attached to Rimini Street’s Form 8-K filing with the Securities and Exchange Commission. The company has stated that it does not intend to update the information provided in this filing.

For further context on Rimini Street’s legal matters with Oracle, the company advises consulting its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed on May 1, 2025.

This article is based on information from a press release statement by Rimini Street, Inc.

In other recent news, Rimini Street, Inc. announced its first-quarter 2025 earnings, reporting a revenue of $104.2 million, slightly surpassing expectations of $103.26 million. However, the company missed earnings per share (EPS) forecasts, posting $0.04 compared to the anticipated $0.07. Despite this, Rimini Street’s gross margin improved to 61% from the previous year’s 59.8%. Additionally, the company has been focusing on strategic partnerships and cost optimization efforts, although formal guidance remains suspended due to ongoing litigation with Oracle.

In another development, Rimini Street appointed Mr. Vijay Kumar as its new Chief Operating Officer, effective May 6, 2025. Mr. Kumar brings over 25 years of experience in enterprise software and technology leadership roles. His compensation includes an annual base salary of $400,000, with additional incentives and equity awards.

Furthermore, Rimini Street is collaborating with Brazilian pharmaceutical company Apsen Farmacêutica and ServiceNow to enhance Apsen’s ERP system. This partnership aims to improve workflow automation and operational efficiency, allowing Apsen to avoid costly migrations to newer systems. Rimini Street’s approach reportedly reduces support costs by up to 90% and extends software lifespans.

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