Feeds

SCO faces ejection from Nasdaq

The lawyers ate my filing

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

The Nasdaq exchange has threatened to delist The SCO Group unless the company can get up to date with a key filing meant for the US Securities and Exchange Commission (SEC).

SCO today revealed that Nasdaq officials may pull it from the exchange unless it files its Form 10-K in a "timely fashion." Already packed down with lawsuits against IBM and Novell, SCO will now have to endure another hearing with Nasdaq officials if it wants to remain on the exchange. Without such a hearing, SCO will disappear from the market on Feb. 25.

"The Company expects to make a request for a hearing with the Nasdaq Listing Qualifications Panel to appeal the Nasdaq staff's determination," SCO said. "This request will stay the delisting pending the hearing and a determination by the Nasdaq Listing Qualifications Panel. There can be no assurance that the Panel will grant the Company's request for continued listing."

SCO has failed to file the Form 10-K for its fiscal year ended Oct. 31, 2004 as a result of an internal investigation into how it handled stock compensation. "The Company is working to resolve these matters as soon as possible and expects to file its Form 10-K upon completion of its analysis," it said.

SCO's shares dipped more than 5 per cent once word of the potential delisting broke. They're sitting at $4.06, at the time of this report, well below the 52-week high of $14.50.

The company's stock once surged past $20 per share with some investors showing they believed SCO could win its patent and contract disputes against IBM. Over the past couple of years, however, investors have appeared less optimistic that SCO can prove IBM infringed its copyrights by allegedly placing Unix code in Linux. ®

Related stories

SCO dodges bullet
SCO parent sued by former execs
OpenSolaris makes Sun top donor of open source code
Hand over the code, judge tells IBM
SCO's vanishing licensing biz hits Q4 revenues

Application security programs and practises

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.