Feeds

SCO faces ejection from Nasdaq

The lawyers ate my filing

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

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

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.