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BayStar Interviewed Regarding SCO Investment

Posted by ryuzaki0 on from the crimping-their-style dept.

Gonzo_Warrior writes "BayStar's managing partner explains what led him to 'ask' SCO for their money back. In this article, Lawrence Goldfarb describes '...the wayward corporate behavior on SCO's part' that led him to reevaluate BayStar's position. In a letter to SCO last week, BayStar claimed that '...SCO's behavior violated provisions of the investment agreement and that BayStar's convertible preferred stock be redeemed.' The article notes that since its founding in 1998, BayStar has never before asked a company for its money back." CNet has a story based on talking to a BayStar spokesdrone.

4 of 277 comments (clear)

  1. Of the 400 companies they've invested in ... by burgburgburg · · Score: 5, Informative

    over the years, SCO is the first that they've asked for the money back from. If that isn't a tell, I don't know what is.

  2. Re:Since 1998 eh? by pete-classic · · Score: 5, Informative

    Perhaps you've never read a newspaper before? This is a common journalistic method of inserting a fact without dedicating a whole sentence to it.

    It also states that in over 400 investments they have never done this before. So while the history isn't exactly epic there is enough to show that, to date, they have resorted to this sort of action in fewer than one quarter of one percent (.25%) of cases. This strikes me as fairly significant.

    -Peter

  3. Re:I don't get it. by ch-chuck · · Score: 5, Informative

    fell 38 cents yesterday to $6.80 ... but now it's at 7.96

    I think that's what professional investors call a Dead cat bounce.

    --
    try { do() || do_not(); } catch (JediException err) { yoda(err); }
  4. Re:SCO buyback? by BigBadBri · · Score: 5, Informative
    The buyback was an attempt to stop the stock price from infringing the terms of the Baystar deal - it had to be pushed over a $10.49 limit to stop penalties being triggered.

    --
    oh brave new world, that has such people in it!