The SCO Group has been removed from the Nasdaq Stock Market because the company
declared bankruptcy in September.
The stock market delisted SCO and suspended trading of its shares (SCOX) at
the beginning of trading on Thursday, SCO said in a filing to the U.S. Securities
and Exchange Commission. Nasdaq had told the company in September that it would
be delisted, and SCO's subsequent appeal of that determination was turned down.
SCO has been waging an expensive legal battle against IBM for years, claiming
the company inappropriately used copyrighted SCO Unix code as part of its support
of the Linux operating system. SCO suffered a major loss in that case in August
when a federal judge ruled that Novell, not SCO, owned the Unix copyright. In
September, the Lindon, Utah, company said the
ruling might cost it $30 million and that it had just $10.4 million in cash.
In October, SCO said it had a "potential" buyout offer for $36 million
from JGD Management, a company affiliated with investment firm York Capital
Management. That deal would have to be approved by the bankruptcy court.
