SCO seals deal for legal expense cap
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Suffering stock steadied by deal that will hold costs of multiple Linux and Unix lawsuits at $31 million.
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The SCO Group has been removed from the Nasdaq Stock Market because&#160;the company declared bankruptcy in September.The stock market delisted SCO and suspended trading of its shares (SCOX) at the beginning of trading on Thursday, SCO said in a filing to the U.S. Securities and Exchange Commission. Nasdaq had told the company in September that it would be delisted, and SCO&#39;s subsequent appeal of that determination was turned down.SCO has been waging an expensive legal battle against IBM for years, claiming the company inappropriately used copyrighted SCO Unix code as part of its support of the Linux operating system. SCO suffered a major loss in that case in August when&#160;a federal judge ruled that Novell, not SCO, owned the Unix copyright. In September, the Lindon, Utah, company said the ruling might cost it US$30 million and that it had just $10.4 million in cash.In October,&#160;SCO said it had a &quot;potential&quot; buyout offer for $36 million from JGD Management, a company affiliated with investment firm York Capital Management. That deal would have to be approved by the bankruptcy court.
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With its cash reserves running out, the SCO Group Inc. has filed for bankruptcy protection.
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Lawyers got theirs SCO Group today filed for bankruptcy protection. With less than $10m cash left to call on, SCO said that Chapter 11 protection and reorganization would protect assets as it addresses, ahem, "potential financial and legal challenges".â¦
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A member of the Saudi royal family and a private equity group are coming to the rescue of SCO Group, a company that claims it holds the copyright to the ubiquitous Unix operating system and that developers of the Linux open-source operating system stole it.
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SCO gets lots of source, plus a football lesson
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If you don&#39;t protect your intellectual property now, you risk having your business sacked by open source-touting bandits. Yes, SCO head Darl McBride is back and he&#39;s still angry.
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IBM is trying to use SCO as a punching bag this week as Big Blue fires off another motion for partial summary judgment in its legal slugfest over Linux and Unix copyright issues.
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(InfoWorld) - Banking and insurance conglomerate ING Group has finalized contracts worth â¬750 millionÂ ($994 million) with a consortium of companies to provide workspace services for its 53,000 employees in Europe. The contracts with Royal KPN, Getronics, Atos Origin, and AccentureÂ are each for seven years and cover the installation, maintenance, and support of desktop PCs, laptops, printers and telephones, the companies said Thursday. It's the biggest of three outsourcing deals that ING has finalized recently, worth a combined total of â¬1.3 billion. They are part of a cost-cutting plan announced last November that is designed to save the company â¬460 million per year, including â¬230 million from operations and IT. ABN AMRO Bank made a similar moveÂ last year, announcing a plan to outsource its IT operations worldwide in a series of deals worth â¬1.8 billion over five years. The bulk of that contract went to IBM. KPN took the biggest slice of the latest ING contract. It was awarded â¬269 million to provide fixed and mobile communications, call center, LAN (local area networking) and conferencing services for staff in the Netherlands and Belgium. Atos Origin was awarded â¬216 million to design and manage ING's back-end office automation, including e-mail and the active directory, and provide related support for end users. Getronics was awarded â¬213 million for help desk and on-site support for end users, as well as hardware purchasing and asset management. Accenture was awarded â¬52 million to be the "integrator," coordinating services and managing the supplier contracts. When ING announced an initial agreement with the four companies in July it said the contracts would run for five years and be worth about â¬800 million. It estimated that 550 full-time employees would be transferred to the contractors. That number will now be 430, it said Thursday. Of the earlier outsourcing contracts, on Nov. 6 ING finalized a six-year, â¬200 million deal with LogicaCMG for application management, IT maintenance and testing. And on Dec. 6 it signed a seven-year, â¬350 million contract with the U.K.'s Astron to process its banking and insurance documents.
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By ERICA CORDOVA Journal Staff Writer  After months of negotiations and bickering, the city and county came to a unanimous agreement Thursday over how to pay for operational costs for   one of the largest public works projects in the region's history.
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Richard Mathias writes &quot;Following on from the posting a month ago, where SCO said it was going to launch a new website to counteract Groklaw and give its side of things - well, now the company looks like it&#39;s given up on the whole plan.
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A month after a devastating legal ruling, The SCO Group says it's filed for Chapter 11 bankruptcy protection while it reorganizes.
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Accounting standards setters yesterday agreed to give companies six more months to comply with a plan that would require them to treat stock options as an expense, cheering both overburdened
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The small pharmaceutical firm signs another big deal.
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The award for fees and costs comes in a case in which Microsoft agreed to allocate $1.1 billion for California consumers. By Associated Press.
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The enterprise software company strikes a sizeable deal to get back on track.
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The IT vendor agrees to pay more than $200 million to avoid criminal prosecution in an accounting scandal. Also: PeopleSoft strengthens ties with IBM & hellip;. eMusic gets a facelift & hellip;. and more.