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SCO had
previously fought off multiple NASDAQ delisting attempts over the
course of this year. The delisting today, according to a SCO statement,
came as a result of SCO\'s bankruptcy filing in September.
At the time, NASDAQ warned SCO about being delisted because of its filing for bankruptcy. However, the company successfully managed to delay the delisting pending a hearing before NASDAQ.
Evidently
that hearing did not go in SCO\'s favor: According to a company
statement today, SCO on Dec. 21 had again received notice from NASDAQ
that the company would be delisted after all.
SCO representatives were not immediately available for comment.
The bankruptcy-based delisting actually comes as one of two separate delisting actions that NASDAQ had pending against SCO.
SCO in September also received a warning letter from NASDAQ citing non-compliance with marketplace rules -- namely, that its share price had fallen too low.
The
company had been given until March 24, 2008, to raise its share price
to at least $1.00 per share, for a minimum of 10 consecutive business
days.
SCO had earlier faced a similar marketplace compliance issue in April, although it was able to raise its share price and became compliant by June.
The developments represent the latest turn of events in the Unix vendor\'s long tailspin, which began on the heels of a devastating judgment in its legal battle against Novell over Unix copyrights.
In his
August decision, Judge Dale Kimball found that Novell was the owner of
the disputed Unix and UnixWare copyrights. That ruling triggered SCO\'s
formal bankruptcy protection that led ultimately to today\'s SCOX
delisting.
Though SCO
has suffered legally and in the public markets, it has continued trying
to keep its software business afloat. In October, the company attempted
a deal to sell off its Unix business for as much as $36 million. In November, SCO actually released an update to its flagship OpenServer 6 Unix product line.
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