SCO settles boardroom dispute with Canopy
Family harmony restored...
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. ®