SCO gets reprieve from Nasdaq

The SCO Group will not lose its ticker on the Nasdaq stock exchange and will be given more time to sort out its finances before being delisted.

The Nasdaq stock exchange has given The SCO Group a little more time to get its financial house in order.

The Lindon, Utah, Unix vendor had said last week that had been set to be delisted on Thursday of this week, but that the company planned to appeal the decision, a move that would delay the delisting.

On Friday, SCO's stock (SCOX) continued to be traded on Nasdaq, and by midday Friday it was up nearly 4 percent, trading at US$0.17. When asked about the Nasdaq situation, SCO's public relations agency said it would issue a statement later on Friday.

SCO received the notice of delisting on September 18 as a result of its bankruptcy, the company said.

The bankruptcy filing followed a major legal setback dealt to SCO last August. That's when a federal judge ruled that Novell and not SCO owned copyright to the Unix operating system. This decision not only undermined SCO's long-running legal dispute with IBM, but it also raised the possibility that SCO would have to pay Novell as much as $30 million in licensing fees. SCO has about $10.4 million in the bank, according to its latest financial statement.

"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 a September 18 SEC filing.

Join the PC World newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Robert McMillan

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?