SCO Avoids Nasdaq Delisting, But Problems Remain
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TechWeb - Last week, SCO reported a second-quarter loss of $1.1 million on revenue of $6 million.
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CANNES, FRANCEÂ -- Protect your intellectual property (IP) now or risk having your business sacked by open souce-touting bandits, The SCO Group Inc. President and Chief Executive Officer Darl McBride warned an audience of tech industry leaders, analysts, and investors at the Etre conference here on Tuesday.
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Plus: SCO to cap legal costs...Novell sees weakness in IT spending...Salesforce reports rise in profit...Nortel to lay off 3,500.
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The Nasdaq stock exchange has threatened to delist SCO next Thursday, due to its Chapter 11 bankruptcy filing.
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Singapore ExchangeÂ (SGX) warned investors not to rely on data provided for the Straits Times Index, one day after a computer inaccurately reported the value of the component stocks in the benchmark index. The incident is the latest in a string of computer-related problems to hit the exchange this year.
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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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Not since SCO has there been a company so reviled by the open source community as Novell following its deal with Microsoft.  Already there are some clear signs of the negative effects of that anger: senior coders have left the company; Novell has posted a loss for the most recent quarter; and there are calls for a boycott of Novell products â to say nothing of imminent changes to the GNU GPL that might well nullify the entire Novell-Microsoft deal.  Some people are rubbing their hands in glee at the thought of Novell crashing and burning completely, but such a development could actually turn out to be one of the worst things to happen to free software.
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IBM attorneys argued that Utah-based SCO Group has failed to provide any evidence that IBM allowed proprietary Unix code to enter the freely distributed Linux operating system and its $5 billion suit making that claim should be dismissed.
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Shares in SCO Group Inc. SCOX.O  rallied as much as 34 percent on Thursday after the small  software company won a legal victory in its multibillion dollar  lawsuit against IBM over computer software code used in Linux.
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The SCO Group has asked the Utah district court overseeing its $5 billion suit against IBM to postpone any decision on any IBM dispositive motions - like the one the court is supposed to hear on Wednesday seeking a partial summary judgment in IBM&#39;s favor
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An earnings warning, a brokerage downgrade, and the confusion over the Oracle (Nasdaq: ORCL) merger with PeopleSoft (Nasdaq: PSFT) is taking its toll on application software vendor Lawson Software (Nasdaq: LWSN).
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In its quarterly 10-Q filing with the US Securities and Exchange Commission on Tuesday, UNIX provider SCO Group expressed its fears that, if it were faced with a judgment ordering it to pay Novell for several years of using UNIX trademarks recently found to have been owned by Novell all this time, it may not be able to continue business.
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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.
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While still fighting in the courts and fresh from filing for Chapter 11 bankruptcy protection last month, The SCO Group could soon be selling its steadily-declining Unix business.In a filing Tuesday in U.S. Bankruptcy Court in Delaware, the Lindon, Utah-based company said it has received a "potential" $36 million offer for its Unix business from JGD Management, an umbrella business of New York-based investment firm York Capital Management. The filing has been posted on the Groklaw.com Web site, which has been tracking the legal records of the ongoing lawsuits between SCO, IBM, Novell, and others. In it, SCO reports that the offer includes money for its Unix business, litigation claims, and for litigation expenses.The bid is subject to approval by the bankruptcy court, according to the filing, and competitive bids could still be accepted from other potential buyers.SCO filed for Chapter 11 bankruptcy reorganization last month as it began seeking ways to stay in business amid mounting expenses and several legal rulings that have hurt its legal fights with IBM and Novell.If SCO gets out of the Unix business, it would continue solely as a mobile application platform vendor, which it has been working to become over the last several years.An SCO spokesman could not be reached for comment about the buy-out offer. A spokesman for York Capital Managament declined to comment on the matter.Three weeks ago, in an interview with Computerworld, SCO CEO Darl McBride said his company would continue to make moves to remain a viable business, despite the death knells sounded by some critics.According to the terms of the York offer, approval of the deal is required from the bankruptcy court by Nov. 9, with the transaction needing to be completed by Dec. 7.Computerworld is an InfoWorld affiliate
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InfoWorld - With its cash reserves running out, the SCO Group Inc. has filed for bankruptcy protection.
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FRANKFURT : German electronics giant Siemens is planning to de-list its shares from the New York Stock Exchange because of the high costs of maintaining a listing on Wall Street.
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The SCO Group shares are removed from the Nasdaq market after the company loses its appeal about the issue.