Feeds

SCO settles boardroom dispute with Canopy

Family harmony restored...

  • alert
  • submit to reddit

SANS - Survey on application security programs

SCO has welcomed news that a case involving three board members of its onetime biggest shareholder, Canopy Group, has been settled. Brent Christensen, Darcy Mott and Ralph Yarro were seeking $100m and their old jobs back - they were sacked in December last year.

They claimed this was the result of a boardroom coup and did not reflect the feelings of Ray Noorda - who founded Novell and venture capital group Canopy. Canopy counter-sued the three accusing them of receiving $20m as a result of "self-dealing and wasteful transactions."

In a statement the firm said: "SCO is pleased that the final settlement between The Canopy Group and its former management has removed any uncertainty regarding The SCO Group and SCO shares that Canopy has owned. As SCO's largest shareholder, we look forward to Ralph Yarro's continued leadership and guidance as chairman of the SCO board."

Both sides accused the other of taking advantage of Noorda's failing health and memory. Noorda suffers from Alzheimer's disease.

Under the settlement, Yarro stays on as SCO chairman and receives all Canopy's SCO shares as part of the settlement. Mott also stays on the board, and all three receive a financial settlement.

SCO is famous, or infamous, for starting legal action claiming Linux infringes some of its own Unix IP. ®

Related stories

SCO parent sued by former execs
Novell torpedoes SCO's Unix IP claim
MS blesses SCO, licenses Unix

SANS - Survey on application security programs

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.