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.
Nasdaq to delist SCO group (Trading Markets)
NASDAQ Gives SCO The Boot (Internet News)
More woe for SCO as Nasdaq says 'go' (Channel Register)