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SCO Puts a Cap on its Legal Expenses
prostoalex writes "The SCO Group reached an agreement with the lawyers to limit the litigation expenses to $31 million until the IBM lawsuit is resolved. The company already paid $12 million to Boies Schiller & Flexner LLP, Kevin McBride and Berger Singerman, which provide legal services to the company."
SCO Caps Legal Expenses At $31 Million
Posted by timothy on Wednesday September 01, @10:08AM
from the nice-prime-number-of-millions dept.
There is much cruelty in the universe, John.
Yeah, we seem to have the tour map.
News.com story
Yes, it's his brother.
I do not think so. There was some time ago that the agreement was signed and it was annouced (including on /.), but this is further clarification that just came out today (or yesterday).
I prefer the "u" in honour as it seems to be missing these days.
Yes. His brother.
Shady...
5468652047616D65
Sory on ./ in September
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http://yro.slashdot.org/article.pl?sid=04/09/01/1
There is much cruelty in the universe, John.
Yeah, we seem to have the tour map.
There WAS "talk" about the cap a month or two ago, but agreement was never reached.
"Who are in control, they are not in control of anything - they don't even control themselves!" - Glen Beck
10/12/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 88,580 Open Market Sale proceeds of $314,280.59
10/05/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 59,865 Open Market Sale proceeds of $215,714.00
10/04/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 90,135 Open Market Sale proceeds of $326,372.70
9/29/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 42,110 Open Market Sale proceeds of $141,174.00
9/27/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 69,800 Open Market Sale proceeds of $237,810.00
9/23/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 55,000 Open Market Sale proceeds of $194,300.00
9/22/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 45,000 Open Market Sale proceeds of $155,250.00
9/21/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 16,000 Open Market Sale proceeds of $57,580.00
Sell, sell, sell!
And today's stock spike...
No, Kevin McBride is Darl's brother:
CRN's top 25 execs of 2003:
His brother, Kevin McBride, says the boys were also taught how to shoot. "We were taught to protect ourselves and what was ours at a very early age and started carrying guns for hunting when we were very young," Kevin says.
And afterwards, Boies et al will be able to buy SCO outright, for all it will be worth. With plenty of change left over.
Not quite....they have reached an agreement with the lawfrm to cap their bill at 31m. Not that they will fire their attorneys and call it quits once the bill hits 31m. Their attorneys may get a little less enthusiastic once they hit the cap, but the litigation itself will continue.
The above mentioned, Kevin McBride, is brother to Darl McBride acording to this Computer Shopper News article.
So even if Darl fails in his quest to sue every sentient being (and SCO dies), he will have kept lots of money in the family.
Generally true, yes. However, there is also a concept known as "piercing the corporate veil" which allows a stakeholder, usually a director or officer, but potentially a dominant shareholder, especially in closely held corporations, to be held liable for misdeeds of the company on the theory that the stakeholder and the company were indistinguishable in the eyes of the law.
There was Cowboy Neal at the wheel of a bus to never-ever land.
So this can go on approximately 1 1/2 times as long as it has so far? That's good news?
A wet sponge would make for a more effective killing machine, a dry sponge (at least as presented theatrically in The Green Mile) makes it less efficient at killing, so there's a lot more pain/torture.
500GB of disk, 5TB of transfer, $5.95/mo
Yesterday David Boies (SCO's lead attorney) was on the Ronn Owens show on KGO-AM, taking calls from listeners. The topic was supposed to be his new book, but I couldn't pass up the opportunity to hear his justification for his horrible work with SCO. So I called and asked him.
He seemed a little daunted by my opening, in which I told him I had lost all respect for him. When faced with the question of "Why!?", he predictably said "everyone's entitled to a defense". Never mind that SCO's on the *offense*... His justification basically boiled down to the simple, "the courts will decide if SCO's claims are legitimate". In other words, he doesn't give a shit. He just wants the money, win or lose.
I have worked with attorneys before, more than once, and the ones I worked with didn't want a case unless it seemed somewhat meaningful, and definitely very winnable. The money was important, but reputation was moreso. Bad reputation translates to less money for the shortsighted, quite often.
I guess this simply shows he's a whore, moreso than most attorneys.
IBM lawyers are IBM employees, on a salary(ok a big one), but IBM doesn't go out and hire lawyers every time they need something done, they have them on staff. So SCO is just making sure that the IBM lawyers earn their paychecks this year. Next year it will be someone else.
Food not Bombs is a nice platitude but it breaks down when you notice that the Bombees are usually well fed
For civil law, the average fee seems to be higher, about $150/hour [3]
You are off by at least $50/hour for a fee. [/i]
No he's not. At big law firms, like the firms involved in this case, the fee for brand new attorneys is at least $125/hr. IBM's attorneys are based in New York, so I wouldn't be surprised if their brand new attorneys billed $200/hr, with the partners billing at least $400/hr.
And don't forget travel expenses. Boies is based in Florida, but the case involves parties in NY and UT. There's a lot of plane tickets and hotel bills.