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.
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)
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