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Bankruptcy trustee skeptical as SCO punts on reorg plan
A private equity firm that was prepared to fund SCO's reorganization
is now having second thoughts. According to a memorandum of
understanding that was revealed to the public in February, Steve Norris
Capital Partners (SNCP) had tentatively offered to buy $5 million in
stock and supply a $95 million loan for paying creditors and
resurrecting the company. SNCP has now backed out of the plan and is
instead negotiating a buyout of SCO assets.
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Posted by linuxwiz on Friday, April 04 2008 @ 07:43:28 EDT (74 reads)
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Update: McBride ousted at SCO, lawsuits to continue
Lindon (UT) – The SCO Group plans to emerge from Chapter 11
soon and revealed that not only will it modify its business strategy
towards mobile products, it will also replace chief executive officer
Darl McBride and pick up the Linux and Unix license lawsuits against
IBM and Novell.
The new owner of The SCO Group, investment firm Stephen Norris Capital
Partners (SNCP), is planning to open a new chapter in SCO’s Linux
lawsuit history, which started back in March of 2003 when the company
filed a $1 billion suit against IBM. As part of its plan organization,
SCO announced that it will appeal the proceedings, which will begin
with an appeal against a key decision in favor of Novell from August 10, 2007, which also impacts the lawsuit against IBM.
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Posted by linuxwiz on Thursday, March 06 2008 @ 07:36:13 EST (152 reads)
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SCO CEO likely will be forced out of job
Darl McBride said Monday he
regrets that he is being pushed out as CEO of The SCO Group software
company but not his decision to sue IBM and Novell, lawsuits that led
to the company's bankruptcy and ultimately his departure.
McBride will no longer be CEO of the Lindon-based company if a
bankruptcy judge approves the company's reorganization plan that aims
to bring in new owners.
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Posted by linuxwiz on Tuesday, March 04 2008 @ 20:24:16 EST (133 reads)
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SCO says there is 'substantial doubt' it will survive
SCO's recent legal defeat in its Unix case versus Novell as well as its
filing for Chapter 11 bankruptcy protection show a company on the verge
of collapseWith its cash reserves running out and its legal
case against IBM unravelling, The SCO Group now says there is doubt
that it will remain afloat.
CO made the statement in its most recent quarterly U.S. Securities and Exchange Commission statement, filed Tuesday. The company cited its recent motion for Chapter 11 bankruptcy protection as well as a recent court setback relating to its intellectual-property claims as reasons for worry.
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Posted by linuxwiz on Tuesday, September 18 2007 @ 17:19:43 EDT (376 reads)
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Big 'No' To SCO
At long last, the SCO Group's ugly, often farcical legal crusade against Linux appears to be over.
SCO has spent four and a half years arguing that it owns the
copyrights to Unix, and that the free Linux operating system includes
code stolen from Unix.
Its claims suffered what is likely a death blow Friday when a judge
in Utah ruled that SCO does not, in fact, own the copyrights to Unix.
SCO issued a statement saying it would carry on with other claims against Novell, and hinted that it might try to appeal Friday’s ruling.
Passionate fans of Linux, a free operating system developed
collaboratively by programmers from around the world, have argued from
the start that SCO’s claims lacked any merit. On pro-Linux Web sites,
they’ve been celebrating since Friday, viewing the ruling as
vindication.
For SCO, it’s a fizzle of an ending to a case that began with loads of bluster and bravado. In March 2003, SCO Group, a tiny company based in Lindon, Utah, sued IBM,
claiming IBM took code from Unix and put it into Linux. SCO also warned
hundreds of customers that they might be in legal trouble for using
Linux.
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Posted by linuxwiz on Monday, August 13 2007 @ 07:43:44 EDT (576 reads)
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SCO Vs. Blogger
Boston - For three and a half years, a blogger named Pamela Jones has led a relentless online crusade against software maker SCO Group, posting thousands of articles bashing the company for suing IBM over the Linux operating system.
Now
the Lindon, Utah, software company is fighting back by seeking to take
a deposition from Jones. Just one problem: They can't find her.
SCO
tried last week to serve a subpoena to Jones at a house in Darien,
Conn., where they believe she's been living, but the attempt was
unsuccessful, according to a person close to the matter, who spoke on
condition of anonymity.
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Posted by linuxwiz on Wednesday, February 14 2007 @ 08:02:41 EST (554 reads)
(Read More... | 5091 bytes more | 5 comments | Score: 0) |
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Is SCO's future 'all' up to judge?
The fate the SCO Group's Linux-related lawsuits, as well as the Lindon
software company's very future, could ride on how a federal judge
interprets the word "all."
The way U.S. District Judge Dale Kimball rules on that question
involving ultimate ownership of the Unix operating system could not
only torpedo SCO's slander of title suit against Novell Inc., but
fatally undermine its bigger, $5 billion claim against IBM.
After hearing competing motions Tuesday, Kimball must decide
whether SCO bought all rights to Unix in 1995 - or whether the seller,
Novell, retained ownership while granting only limited licensing and
development rights.
“ 'All' means all. It can only mean all,” Novell attorney
Michael Jacobs argued, referring to the sale's contractual wording in
reference to his company's rights to Unix. "No one in 1995 contemplated
what SCO has wrought" in its interpretation of the deal.
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Posted by linuxwiz on Wednesday, January 24 2007 @ 07:09:10 EST (321 reads)
(Read More... | 2374 bytes more | 1 comment | Score: 0) |
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Despite SCO Group's financial slide, Unix plans continue
The SCO Group,
which continues to fight legal battles over Linux and Unix, reported
growing losses in 2006 as it jockeys to establish itself as a mobile
application and services provider in the face of stiff competition in
its traditional Unix business.
Revenue for the fourth quarter of 2006 was $7.35 million, compared to
$8.53 million during the fourth quarter a year earlier. In addition,
losses for the most recent quarter totaled $3.74 million, up from the
$3.43 million net losses SCO reported in the fourth quarter of 2005.
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Posted by linuxwiz on Friday, January 19 2007 @ 14:23:03 EST (295 reads)
(Read More... | 4695 bytes more | 1 comment | Score: 0) |
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SCO gets another kick in the teeth
IBM did not destroy evidence, Judge says
ANTI-LINUX bad-boy SCO is watching its case against IBM collapse
around its ears as an attempt to get Biggish Blue to pay for wrecking
its case by spoiling evidence has been chucked out.
According to Groklaw,
wanted a Motion for Relief for IBM's Spoliation of Evidence. It claimed
that IBM destroyed evidence so that SCO could not prove its case.
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Posted by linuxwiz on Friday, January 19 2007 @ 07:03:44 EST (315 reads)
(Read More... | 907 bytes more | 2 comments | Score: 0) |
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SCO Loses Revenue and Employees
SCO CEO
Darl McBride insisted during the company's fourth quarter conference
call today that the company is not going bankrupt. He did admit,
however, that SCO's recent earnings are not very impressive, but is
encouraged by the company's prospects for 2007.
SCO (QuoteChart-->) reported
results for its fourth quarter and fiscal year ended October 31, 2006
on Wednesday, and the numbers are none too pretty.
SCO
reported a net loss for the fourth quarter of 2006 of $3.7 million, or
18 cents per diluted common share. The quarterly loss is 9 percent
wider than its loss during the same, year-ago quarter, which was $3.4
million or 19 cents per share. SCO cited continued competitive
pressures on its UNIX business as the reason for the increased loss.
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Posted by linuxwiz on Thursday, January 18 2007 @ 17:04:41 EST (332 reads)
(Read More... | 2490 bytes more | 3 comments | Score: 0) |
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SCO punts on Novell bankruptcy claim
SCO, which Novell claims is on the verge of bankruptcy, had less
than $13m at the close of its Q4, less than half the amount its legal
adversary Novell says it is owed from the maker of Unix products and
services.
SCO, which today released financial results for its Q4, said it
burned about $10m in cash in fiscal 2006, which ended in October. About
$12.3m of that was consumed funding lawsuits against IBM and Novell,
which are contesting SCO's claim to intellectual property rights of
Linux. That leaves the struggling company with about $12.6 in cash.
(Some of the legal fees came out of an escrow account, explaining why
legal fees were higher than over all cash burn.)
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Posted by linuxwiz on Thursday, January 18 2007 @ 10:59:28 EST (378 reads)
(Read More... | 3230 bytes more | 1 comment | Score: 0) |
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The SCO Group continues its downward slide
The SCO Group,
which continues to fight legal battles over Linux and Unix, reported
growing losses in 2006 as it jockeys to establish itself as a mobile
application and services provider in the face of stiff competition in
its traditional Unix business.
Revenue for the fourth quarter of 2006 was $7.35 million, compared to
$8.53 million during the fourth quarter a year earlier. In addition,
losses for the most recent quarter totaled $3.74 million, up from the
$3.43 million net losses SCO reported in the fourth quarter of 2005.
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Posted by linuxwiz on Wednesday, January 17 2007 @ 21:16:49 EST (1057 reads)
(Read More... | 4762 bytes more | 2 comments | Score: 0) |
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Old Articles
| Friday, January 19 2007 @ 15:23:03 EST | | · | Despite SCO Group's financial slide, Unix plans continue |
| Friday, January 19 2007 @ 08:03:44 EST | | · | SCO gets another kick in the teeth |
| Thursday, January 18 2007 @ 18:04:41 EST | | · | SCO Loses Revenue and Employees |
| Thursday, January 18 2007 @ 11:59:28 EST | | · | SCO punts on Novell bankruptcy claim |
| Wednesday, January 17 2007 @ 22:16:49 EST | | · | The SCO Group continues its downward slide |
| Tuesday, January 16 2007 @ 08:45:34 EST | | · | SCO Group Denies Its Demise Is Imminent |
| Friday, January 12 2007 @ 18:21:32 EST | | · | McBride Letter to Customers and Partners - We're Not Dead Yet |
| Tuesday, January 09 2007 @ 14:29:02 EST | | · | SCO bankruptcy called imminent |
| Friday, December 22 2006 @ 13:18:31 EST | | · | SCO Quietly Seeks Another Review of IBM Decision |
| Wednesday, December 20 2006 @ 09:36:26 EST | | · | Microsoft's poodle about to be scalped |
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