BayStar Cashes Out of SCO Stock

Kurt Wall writes "According to Yahoo! Finance, BayStar, the company that funded SCO to the tune of $50,000,000, and then later changed the terms of the deal, has requested that SCO redeem the 20,000 shares of preferred stock issued in return for the funding. The reason? BayStar states that 'SCO has allegedly breached Sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement.' Naturally, SCO thinks it has done nothing of the sort."

Comments

SCO ON SALE!

[Anonymous Coward]

Woo, SCO's stock is down 10.56% already. What a great time for a shrewd investor to buy SCO stock at bargain prices!

So Very Sad.

[Volatile_Memory]

I'm weeping on the inside.

Rats

[shamir_k]

Always the first to leave a sinking ship

I am altering the deal.

[sulli]

Pray I don't alter it any further.

SCO announced today

[Anonymous Coward]

That they would be suing BayStar for the sum of $50,000,000 for their decision to cease funding their lawsuits.

SCO requests specifics

[mflaster]

In SCO's press release:

BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar...

Gosh, making accusations, and not providing any specifics! That's horrible!!!!! I'm sure SCO is outraged.

Mike

Re:SCO requests specifics

[eddy]

This just in:

BayStar Capital II, L.P. today announced a program under which SCOX officers are allowed to learn about the BayStar charges. SCOX officers are only required to sign the dotted line in an NDA about an NDA to a letter about a contract, and they will learn everything they need to know[0].BayStar believes this is a very fair and balanced offer and that only TERRORISTS would decline such a fine offer.

[0] In addition, they will not be allowed to say anything about anything and may be asked to give BayStar money which they will then be legally required to do.

karma

[Anonymous Coward]

From SCO's Press release
"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar"

Re:karma

[stevesliva]

"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar"

I'm hoping Baystar provides hardcopy of all 20,000 shares and 20,000 copies of the Exchange Agreement and declares, "It's in there somewhere, we just don't know where yet!"

SCO now stands for

[Anonymous Coward]

SCO now stands for "Shit! Cash Out!!"

SCO: "Everything's fine, la la la..."

[Anonymous Coward]

Seriously, when the fuck did SCO hire the Iraqi Information Minister?

Re:MOD PARENT DOWN spam in .sig

[Anonymous Coward]

Do we want every post to have a advertisement in the .sig? I personally think that moderators should mod down any post with SPAM at the end.

Yeah right as you go and post a link to yours on the end.

Beware I'm about to DDoS your site for the next 24 hours. That'll learn ya!

Re:MOD PARENT DOWN spam in .sig

[khallow]

Watch out! He's got some sort of bot fighting back. Every time I flood the site, my link gets hammered.

Re:Why they'd be doing this now?

[Anonymous Coward]

Next? They'll Sue Baystar. Then they'll sue Boies.

Then when their stock finally tanks, they'll sue their own shareholders!

Sections 2(b)(v), 2(b)(viii) and 3(g) of the ....

[Halo-]

To help out, I've summarized sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement:

2(b)(v) : Presumption of Correctness

2(b)(viii) : Failure to Pass the "Laugh Test" Clause

3(g) : General Asshattery Clause

Reminds me of that scene in star wars

[voss]

Lackey: Sir, there is potential flaw in our plan, shall I have the shuttle made ready?

Darl: What in our moment of triumph?

-----

Ibm: Ok redhat, Youre all clear now blow this thing so we can all go home

(Scene of SCO imploding)

(Fat guys with beards in Star Wars t-shirts
dancing in the streets)

Wrong way round

[Albanach]

I think this is the first recorded instance of the ship leaving the sinking rats

Re:The joy!

[Tibor the Hun]

I think the joke is on you man.

Have you ever seen penguins jump in the water? Those little fuckers are so good at sliding in, they hardly displace any water at all.

What Darl needs up his ass is an eServer.

Re:MOD PARENT DOWN spam in .sig

[zulux]

What a looser... He's running OpenBSD 3.2 - just like me. He diden't apply the OpenSSH patches and I got right in. I'll just rm -r / [NO CARRIER]

SCO sues Baystar for breach of contract

[Anonymous Coward]

Come on we know it's coming so just have the newstory all ready to go.

here a fill in the blank form for it to help you along

_____ writes today SCO sued ____ for ____ and $____ in damages. SCO contends that ____ failed to _____ resulting in SCO ______. When reached for comment _________ declined to respond at this time due to pending _________ but released a press release stating "At this time _________ ."

Re:MOD PARENT DOWN spam in .sig

[NotQuiteReal]

When I visit his site, all I get is HTTP Error 403 You are not authorized to view this page

He must really hate me since I appear to be blocked from viewing it -- but everyone else on this thread seem to be laughing till the spit milk out of their noses, based on all the funny moderation going on.

I feel left out!

Re:Rats leaving the ship

[Bronster]

To be fair, there is also the lion school of legal practice...fierce, brave, tenacious. Unfortunately the rats, vultures and sharks tend to dominate.

Yeah, it's such a pity that the actions of 95% of lawyers make the other 5% look bad.

Not only that.....

[kajoob]

but he has naked pictures of my wife too! He's a dead man!

Re:Not only that.....

[Anonymous Coward]

but he has naked pictures of my wife too!

At least you get 'em for free. I had to buy them.

With Apologies To Don MacLean

[red floyd]

A long long time ago
Darl can still remember
When Unix(tm) used to make him smile...
And he knew that in a few weeks
That he would sue those Linux(tm) geeks
And maybe prop the stock up for a while...
But IBM just wouldn't shiver
The AIX code they wouldn't deliver
Bad news on the newsrack
BayStar wants their cash back
I don't remember getting sad
When I heard how their stock crashed so bad
But I was laughing and oh so glad
The Day The SCO Group Died...

So we were singing
Bye, bye, Mr. Darl McBride...