Legal

SCO has to go, Nasdaq decides

Nasdaq has delisted the UNIX technology company SCO, citing its filing for protection under Chapter 11 of the U.S. Bankruptcy Code as the reason.

Nasdaq has delisted the UNIX technology company SCO, citing its filing for protection under Chapter 11 of the U.S. Bankruptcy Code as the reason.

An excerpt from News.com

The Lindon, Utah-based company's shares were taken off the Nasdaq because of the bankruptcy proceedings, the company said Thursday in a statement. The company had appealed Nasdaq's decision to do so but lost its appeal on December 21, the company said in a regulatory filing with the Securities and Exchange Commission.

The SCO group had been fighting a major litigation case against IBM but suffered a major loss in August 2007. The company will be looking forward to its mobile platform and UNIX services for revival.

More information:

Nasdaq to delist SCO group (Trading Markets)

NASDAQ Gives SCO The Boot (Internet News)

More woe for SCO as Nasdaq says 'go' (Channel Register)

7 comments
santuccie
santuccie

Just like a drunk driving accident, the dumbbells never think it'll happen to them until it finally does. SCO thought litigation was just the business for them until they lost it all in one fell blow. AMD is next, and they've already got one foot in the grave. When you stop focusing on product and make a business model out of suing your betters, things are bound to go wrong. Fortunately for honest people, the crooks always forget something (the truth is easier to remember than a lie).

W.E.
W.E.

Couldn't happen to a nicer company/guy. Now let's see the paybacks from IBM, Novell, All those people who received extortion letters.

ManiacMan
ManiacMan

Good bye and good riddens. I hope this is a lesson to Microsoft as well when they decide to get sue happy when a competitor threatens their monopolistic ways.

GSG
GSG

Remember that there were quite a few companies that paid SCO for fear that they'd win and be sued. I bet there are some people out there who were wishing they'd waited for the lawsuit to be settled.

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