SCO Receives Nasdaq's Delisting Notice

An anonymous reader writes "This somewhat amusing press release of sorts tells us one of those things we've all been waiting a while for. SCO(X) has announced that 'it received a Nasdaq Staff Determination letter on December 21, 2007 indicating that as a result of having filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the Nasdaq Listing Qualifications Panel has determined to delist the company's securities from the Nasdaq Stock Market and will suspend trading of the securities effective at the open of business on Thursday, December 27, 2007.' PJ at Groklaw has surmised that with effectively zero cash resources left, Novell doesn't stand to get much more than SCO's furniture, if even that. Ding dong, is the wicked witch finally dead yet?"

Dropping due to

[WillRobinson]

Institutional investors don't keep stock that is desisted, so its just being dumped. Bet they wish they did that yesterday.

Now, to pierce that corporate veil...

Re:Dropping due to

[jedidiah]

...yet another good reason to trust no one else with "your" money.

If you don't understand it at all, don't delegate to someone who claims to.

Stocks are bad. Mutual funds are bad^2.

Keep in mind that some pension funds bought into those junk-bond style subprime mortgage investment products.

A little stupidity and a little greed you have the perfect sucker/mark. This is especially so if the mark happens to be in charge of a corporation, investment fund or pension fund.

Is Darl in jail yet?

[roystgnr]

No? And he's still got all the money he made via his pump-and-dump, too?

Then the bad guys won. The fact that they managed to hurt stupid greedy investors more than honest innocent competitors does little to mitigate their victory.

Re:If there was any proof....

[Eggplant62]

Yahbut, if you look closely at the entire history of the case, you'll find that there was intent to deceive from the get-go. Darl and his minions all thought up this neato scheme to defraud everyone by claiming their IP was in Linux in hopes that someone would pay them off to shut them up. Unfortunately, IBM fought them tooth and nail through purposefully-prolonged discovery shenanigans. Novell noticed the stink and put in their two cents, contracturally directing their proxy, The SCO Group to stand down from their threats. TSG decided instead to carry on the FUD at the behest of their master, the big software monopoly out in the Northwest, damn the torpedoes. Unfortunately for the masters, they didn't get enough fear, uncertainty and doubt out of the whole picture to ensure a big win with the new bloatware OS of the year to get anyone to buy it. Instead, we've got major PC manufacturers selling preloaded boxes carrying Linux picking up a nice segment of the market now.

Surely someone will be drawn and quartered in there for the lies and coverups necessary to try to make it all believable.

Re:But most important question NOW is:

[canuck57]

Was Microsoft behind the curtain or McBride and his gang did it by themselves?

Everyone knows MS was behind the curtain.

If not, let's celebrate the end of SCO.

Why would that make a difference? Lets rejoice in SCO dieing! Let MS run and sneak away, their time is coming. Maybe many years off, but a coming.

If yes, doesn't the Novell-MS agreement stink a bit more now?

Sinks/stinks in real good. Novell isn't going sue one of SCO's biggest backers they have a sourcing agreement with, MS. Real dumb move on Novell's part as they did need to develop/support SUSE and forget MS promises. The executive should be fired.

Re:McBride Goeth Before a Fall.

[badasscat]

Has Darl McBride got away with a fat severance package and a job at Microsoft, or did the directors of SCO go down with their ship in any meaningful way?

Darl McBride continues to be with the company, as do most of the other important company directors.

As with every other piece of SCO news, people around here are overreacting to this. Being de-listed from the NASDAQ doesn't really mean a whole lot, because they weren't counting on using any investor money at this point anyway. They've put all their financial eggs in one basket, and that's the lawsuits. And those are continuing; SCO has even said they'll appeal the Novell ruling.

This doesn't mean SCO is "dead", not any more than they were yesterday or the day before anyway. Essentially all that's changed is that you won't be able to point and laugh at them on Yahoo Finance anymore.

It's maybe one more nail in the coffin, but they've been building that coffin for a while now, and it's still not finished yet.