|Oracle CEO, Larry Ellison|
REDWOOD SHORES, Calif. ( TheStreet) -- Oracle ( ORCL) and its investors chalked up a big victory, with the database giant winning a massive $1.3 billion in software theft-related damages from rival SAP ( SAP). Pat Walravens, an analyst at JMP Securities, said the award represents a benefit of about 25 cents per share for Oracle shareholders, while SAP investors stand to lose $1.20 a share on full-year earnings.
Wednesday's verdict, which followed more than three weeks of courtroom tussles, is a record payout for software piracy and pushed Oracle's shares up 56 cents, or 2.04%, to $27.75 in morning trading on Thursday. SAP's stock, however, went in the opposite direction, falling 74 cents, or 1.52%, to $47.95 before market open. Oracle demanded $1.7 billion in damages from its German rival, although SAP, which had already admitted the theft by its now-defunct TomorrowNow subsidiary, offered to pay a sum closer to $40 million. "The open questions at this point are whether SAP will appeal the verdict and whether the Department of Justice may file criminal charges in the case," explained JMP's Walravens, in a note released on Thursday. An FBI agent, he added, was frequently present in the courtroom. A spokeswoman for the Department of Justice told TheStreet that she doesn't comment on speculation. SAP said that it was disappointed with the jury's verdict in a statement that came out late on Wednesday. The company will "consider all available options," it added. "This will unfortunately be a prolonged process and we continue to hope that the matter can be resolved appropriately without more years of litigation." The verdict ensures that Oracle's firebrand CEO Larry Ellison will enjoy a very happy Thanksgiving. Ellison, famed for his belligerent leadership style and SAP-related saber-rattling, was unable, however, to subpoena former SAP CEO Leo Apotheker, now in charge at HP ( HPQ), to appear at the Oakland, Calif. courthouse. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org