02:45 PM EDT, 07/10/2025 (MT Newswires) -- Rimini Street ( RMNI ) shares were sharply higher Thursday after the company said it entered a settlement agreement related to the decade-old Rimini II copyright dispute with Oracle (ORCL), effective Monday.

Under the agreement, Oracle will pay back almost $37.8 million to Rimini Street ( RMNI ) out of the $58.7 million in attorneys' fees and costs Rimini paid Oracle in 2024, the company said in a regulatory filing late Wednesday.

The settlement mandates Rimini Street ( RMNI ) to complete its wind-down of Oracle PeopleSoft software support services by July 31, 2028, and the companies are expected to move for a stay of all pending proceedings by July 22, 2025, the company said.

Rimini said the agreement also includes a litigation standstill provision that prevents the companies from initiating new legal proceedings against each other during the wind-down period.

Price: 5.30, Change: +1.35, Percent Change: +34.05