Private Investors Resuscitate The SCO Group
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The SCO Group, which claims to own the UNIX code used in the Linux operating system, is poised to emerge from Chapter 11 bankruptcy with the help of private investors.
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A brief look back at a group of IPO siblings provides lessons for investors now and in the future.
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Investors have spoken. Here's what they had to say.
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The stock is revived, but the business remains iffy.
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Legal fees down The SCO Group saw its business ebb away during the third quarter, as both revenue and sales continued their steady migration southwards.â¦
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Sale process for stricken bank in disarray as private equity firm fails to submit an offer
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With its cash reserves running out and its legal case against IBM unravelling, The SCO Group now says there is doubt that it will remain afloat.
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OCTOBER 13, 2004 (IDG NEWS SERVICE) - After a year and a half of being flamed, dissected and dismissed on the Groklaw.net Web site, The SCO Group Inc.
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Judging from the recent headlines, it would be easy to think that Wall Street&#8217;s private-equity machine shut down for the entire month of August. That would be an exaggeration &#8212; though not by much. Data from Thomson Financial show that the combined value of private-equity-related mergers and acquisitions of United States companies came to just $4.2 [...].
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The company has earned its nosebleed valuation.
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Enough to pay the lawyers off The SCO Group, which earlier this month filed for bankrupcy protection, says it has received an offer for its Unix business.â¦
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The company's shares have recovered from legal settlement sticker shock.
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Deals allowing small investors to get in on private equity transactions are flourishing. What does that mean for the investors?
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Investors might want to wait a while as this company digests its large acquisition.
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(InfoWorld) - With its cash reserves running out and its legal case against IBM unravelling, The SCO Group now says there is doubt that it will remain afloat. SCO made the statement in its most recent quarterly U.S. Securities and Exchange Commission statement, filed Tuesday. The company citedÂ its recent motion for Chapter 11 bankruptcy protectionÂ as well as a recent court setback relating to its intellectual-property claims as reasons for worry. "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 the filing. Last month a judge with the U.S. District Court for the District of UtahÂ ruled against SCO on several motions, finding that Novell, rather than SCO, owned the Unix copyright. Novell had sold SCO some Unix rights in the mid-1990s, but the court said that copyright was never assigned. "The effect of these rulings was to significantly reduce or to eliminate certain of the Company's claims in both the Novell and IBM cases, and possibly others," SCO said in its SEC filing. Several of the company's claims against IBM will be dismissed as a result of this ruling, SCO said in the filing, adding that there are still certain claims that remain viable, such as SCO's allegation that IBM engaged in unfair competition in its failed "Project Monterey" effort that was to create a Unix for 64-bit microprocessors. The rulings may also cost SCO a lot of money. The court said that SCO would have to pay Novell for past licensing deals it had struck with Sun Microsystems Inc. and Microsoft. This could amount more than $30 million, SCO said in its SEC filing. That's more than the $10.4 million in cash now held by SCO. The rest of the 10-Q statement, which covers the quarter ended July 31, is a litany of bad news. SCO's total revenue has dropped drastically year-over-year, its Unix business is down 37 percent, it made nothing from its SCOsource Linux licensing program, short-sellers may further drive the stock down, and the bankruptcy proceedings will divert a "significant amount" of senior management's time away from business operations, the filing said. SCO did not immediately return calls seeking comment. The company's detractors were not so quiet. The filings show that by declaring bankruptcy, SCO is hoping to stave off paying Novell the money it owes, said Pamela Jones, editor of the Groklaw.net blog, which has closely followed SCO's litigation. "They are, to my eyes, saying they don't want to hand over the Sun and Microsoft 2003 monies because it would put them out of business," she said.
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Investors have spoken -- here's what they said.
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A month after a devastating legal ruling, the SCO Group said Friday it's filed for Chapter 11 bankruptcy protection while it reorganizes.