Unix = Chapter 11
Thread Starter
the one and only
Joined: Dec 2000
Posts: 15,571
Likes: 0
From: Govenator Territory
Unix = Chapter 11
SAN FRANCISCO (MarketWatch) -- SCO Group Inc., the embattled software company best known for litigation targeting distributors of open-source, Linux software, said Friday it has filed for bankruptcy.
SCO, which provides Unix-based software to run server computers, said in a prepared release that its board of directors has "unanimously determined that Chapter 11 reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, and employees."
SCO (SCOX:sco group inc com
News, chart, profile, more
Last: 0.37-0.28-43.08%
5:20pm 09/14/2007
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
SCOX0.37, -0.28, -43.1%) shares closed down 43% to 37 cents.
SCO recently suffered a major setback in its litigation with Novell Inc., when a judge determined in August that SCO does not own rights to Unix software.
A trial has been scheduled to further decide whether roughly $25 million in licensing revenue related to Unix must now be taken from SCO and handed to Novell. In its most recent quarterly filing, SCO reported having total assets worth $19.8 million as of April 30.
In 2003 SCO had filed another, high-profile lawsuit against International Business Machines Corp. for allegedly distributing parts of what it had thought to be its Unix property in freely-available Linux software code, creating concern among other Linux distributors that they, too, may be sued.
SCO has not hesitated to intimidate the open-source community -- in an interview late last month, SCO Chief Executive Darl McBride warned that Linux software still remains "squarely in the cross-hairs."
, which has fashioned itself into a Linux distributor in recent years, has said publicly it does not intend to pursue litigation over Unix as SCO had.
SCO began an appeals process in the Novell litigation last month, filing a motion asking the judge in that case to reconsider his decision. However, that motion was denied in an order issued Friday. SCO had claimed that Novell signed over rights to Unix in a partnership arrangement, which Novell disputed.
Recently, SCO has sought to build a business based on mobile phone software applications.
In the release Friday, McBride said that bankruptcy will protect the company's assets, as it focuses "on building our future plans."
SCO, which provides Unix-based software to run server computers, said in a prepared release that its board of directors has "unanimously determined that Chapter 11 reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, and employees."
SCO (SCOX:sco group inc com
News, chart, profile, more
Last: 0.37-0.28-43.08%
5:20pm 09/14/2007
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
SCOX0.37, -0.28, -43.1%) shares closed down 43% to 37 cents.
SCO recently suffered a major setback in its litigation with Novell Inc., when a judge determined in August that SCO does not own rights to Unix software.
A trial has been scheduled to further decide whether roughly $25 million in licensing revenue related to Unix must now be taken from SCO and handed to Novell. In its most recent quarterly filing, SCO reported having total assets worth $19.8 million as of April 30.
In 2003 SCO had filed another, high-profile lawsuit against International Business Machines Corp. for allegedly distributing parts of what it had thought to be its Unix property in freely-available Linux software code, creating concern among other Linux distributors that they, too, may be sued.
SCO has not hesitated to intimidate the open-source community -- in an interview late last month, SCO Chief Executive Darl McBride warned that Linux software still remains "squarely in the cross-hairs."
, which has fashioned itself into a Linux distributor in recent years, has said publicly it does not intend to pursue litigation over Unix as SCO had.
SCO began an appeals process in the Novell litigation last month, filing a motion asking the judge in that case to reconsider his decision. However, that motion was denied in an order issued Friday. SCO had claimed that Novell signed over rights to Unix in a partnership arrangement, which Novell disputed.
Recently, SCO has sought to build a business based on mobile phone software applications.
In the release Friday, McBride said that bankruptcy will protect the company's assets, as it focuses "on building our future plans."
Joined: Oct 2000
Posts: 44,908
Likes: 0
From: Location Location