Novell faces delisting from Nasdaq
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Novell has confirmed the receipt of a notice from the Nasdaq stock market warning that its shares will be delisted from the exchange after the software company delayed filing its most recent quarterly report to the U.S. Securities and Exchange Commission.ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
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Chris Stone, who was instrumental in Novell&#39;s acquisition of SUSE Linux, has left for other pursuits, the company said Thursday.
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Blog: Failure to file quarterly earnings reports while the company investigates possibly refiling over accounting errors has resulted in a repeat notice of possible NASDAQ delisting.
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Networking firm Novell Inc. on Thursday said Chris Stone, vice chairman of the office of the chief executive officer, is leaving the company to pursue other opportunities.
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With Novell concentrating on Linux more and more, many NetWare consumers might be facing dilemmas on where to move on for future needs.
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(InfoWorld) - Following its bankruptcy filing, The SCO Group may be booted off of the Nasdaq stock exchange as early as next week, the Unix vendor said Wednesday. The stock exchange informed SCO on Tuesday that "the Company's securities will be delisted from Nasdaq on September 27, 2007, pending an appeal," SCO said in a statement . This comes as a result ofÂ SCO's recent filing for Chapter 11 bankruptcy protection,Â the companyÂ said. SCO has asked for a hearing to appeal the decision, so it may be able to stave off delisting if it can present the Nasdaq's Listing Qualifications Panel -- a group of independent industry experts -- with a viable business plan, said Wayne Lee, a Nasdaq spokesman. The delisting notice is the latest in a series of bad news for the company, stemming from its August 10 legal defeat to Novell. In a series of rulings,Â a federal judge found that Novell and not SCO owned copyright to the Unix operating system. In addition to putting SCO in a position where it may have to pay millions of dollars in compensation to Novell, the ruling also underminedÂ SCO's legal battle with IBM, which relates to IBM's support of the Linux operating system. "As a result of both the Court's August 10, 2007, ruling and the Company's entry into Chapter 11, there is substantial doubt about the Company's ability to continue as a growing concern," SCO said in its most recent U.S. Securities and Exchange Commission filing. SCO's stock (SCOX) has been pounded since August 10, when it opened at $1.49. On Wednesday it closed at $0.20.
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Software maker Novell filed a lawsuit late last week, re-igniting a legal feud between itself and rival Microsoft, alleging unfair business practices.
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Novell's general counsel is leaving town. Joe LaSala is moving to Discovery Communications.
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(InfoWorld) - Creative Technology has postponedÂ plans to delist from the Nasdaq stock exchangeÂ until August 31, saying it wants to give investors more time to sell off their shares. Creative had originally planned to delist its shares from Nasdaq on August 1, citing the financial burden of complying with U.S. securities laws. In addition, Creative noted less than 10 percent of the trading volume in its shares takes place on Nasdaq, with most trading done at the Singapore Exchange, where the company has a secondary listing. Creative, which makes MP3 players and PC sound cards, has wanted to pull out of the U.S. stock market for several years. In 2003, the company announced plans to delist from Nasdaq, saying its trading volume was low. However, those plans were never realized. Shareholders will be able to trade Creative shares on Nasdaq until August 31. After that time, investors can transfer remaining shares to the Singapore Exchange, which will become the company's sole listing, it said.
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The Nasdaq Stock Market faces the task of rebuilding its foreign expansion strategy after the emphatic rejection this weekend of its second unwelcome bid to acquire the London Stock Exchange.
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(InfoWorld) - U.S. Securities and Exchange Commission (SEC) reporting rules that govern listed companies are too much for Creative Technology, which has renewed plans to delist its shares from the Nasdaq stock exchange. "The administrative overhead and cost of the evolving and increasingly burdensome U.S. reporting obligations has become significant," the company said Thursday, announcing plans to end its U.S. listing on Aug. 1. Less than 10 percent of Creative's trading volume takes place on Nasdaq, it said. "Creative believes the costs of maintaining its Nasdaq listing and continuing with its U.S. reporting obligations are no longer in the best interest of the company and its shareholders," it said. Creative's shares will continue to be traded on the Singapore stock exchange. Creative, which makes MP3 players and PC sound boards, has been down this road before. In 2003, Creative announced similar plans, saying the volume of shares traded in the U.S. was low and most analysts that cover the company are based in Singapore, where its headquarters are located. The delisting plans were announced then also held out the possibility of reducing the company's administrative overhead and cutting costs. "We believe it is in our shareholders' best interest that we initiate steps that can facilitate the elimination of our SEC reporting obligations and our intended delisting from Nasdaq," the company said at that time. The 2003 delisting plans were never realized. Whether or not Creative proceeds with its delisting plans this time remains to be seen. The company announced plans to file a formal delisting notice with the SEC on July 23, but reserved the right to delay or withdraw the filing for any reason. Once the filing has been submitted, Creative's shares can be delisted within 10 days. Assuming Creative goes through with its delisting plans, the company must continue reporting financial results under SEC rules for at least one year after its delisting.
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NOVEMBER 15, 2004  - Novell Inc. last week filed an antitrust lawsuit alleging that Microsoft Corp. illegally tried to eliminate competition in the desktop applications market in the mid-1990s.
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The SCO Group has been removed from the Nasdaq Stock Market because the company declared bankruptcy in Septembe...
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The already-bruising battle for control of the fast-growing Linux market has become even tougher after Dell (DELL:Nasdaq - news - research) announced Wednesday that it will distribute Novell&#39;s (NOVL:Nasdaq - news - research) version of the upstart
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Novell (Nasdaq: NOVL) and IBM (NYSE: IBM) have joined forces in enticing software developers to create applications for Novell's SuSE Linux Enterprise Server software on the IBM Power platform, hoping to provide a boost for Linux among IBM hardware customers.
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By Bob Mims, The Salt Lake Tribune  Mar. 10--Novell Inc. confirms it is putting some excess property on its  Provo campus up for sale -- but the company says that does not portend a Utah  exodus.
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Novell has reversed its year-ago loss on a five per cent rise in revenue, but it failed to meet some forecasts on the Street. The maker of NetWare - and now a major force in the Linux business - posted net