SCO Receives Nasdaq's Delisting Notice 208
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?"
Ding dong (Score:3, Informative)
No, the wicked witch is still spreading FUD [theregister.co.uk].
She's down one Winkie now though.
Re: Still spreading FUD. (Score:4, Informative)
Great quotes from SCO's CEO (Score:4, Informative)
Re:So why does everyone hate SCO? (Score:5, Informative)
Re:So why does everyone hate SCO? (Score:5, Informative)
SCO's botched endgame (Score:5, Informative)
For those of you who don't follow this mess, SCO voluntarily went into bankruptcy in September, the day before the SCO vs. Novell trial was to start. This stopped that case. For about two months. Novell asked the bankruptcy judge to let their case continue. After frantic maneuvers from SCO, which went nowhere, the bankruptcy judge let the Novell case proceed. It will go to trial in January or February. The only remaining issue there is how much money SCO owes Novell. SCO already lost on the "who owns UNIX copyrights" issue; Novell owns them.
The IBM and Red Hat cases are still pending, so if anybody wants to buy up SCO (the company's entire market cap is only $2.4 million today), they'd be stuck with those potential liabilities, on top of the Novell liability. That's why nobody is snapping up the remains of the company.
Plan on visiting the liquidation auction some time next summer.
Re:Why the 6-day delay? (Score:3, Informative)
It took until 12/27 to hit the newswires because the SCO press release is dated 12/27. [sco.com] The newswires picked it up the same day, today.
Re:If there was any proof.... (Score:4, Informative)
Re:I'll liquidate it for them (Score:3, Informative)
The SEC should investigate (Score:3, Informative)
Where SCO acted incorrectly was in waiting 5 days to announce the news. This set up the opportunity for the people who knew that SCO was going to be delisted to trade on insider information. The SEC should investigate trading in SCOX shares between December 21 and December 26 to see if any insider trading in SCOX occurred.
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Steve Stites
Re:If there was any proof.... (Score:2, Informative)
Re:McBride Goeth Before a Fall. (Score:3, Informative)
"Essentially all that's changed is that you won't be able to point and laugh at them on Yahoo Finance anymore."
Wanna bet? Alternate link to yahoo message board for SCOX [yahoo.com].
If anyone deserves to be kicked on the way down, its' these SCOXsuckers ...