Feeds

SCO faces ejection from Nasdaq

The lawyers ate my filing

  • alert
  • submit to reddit

The essential guide to IT transformation

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

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?