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SCO Possibly Delisted from NASDAQ
canfirman writes "Reuters is reporting that SCO could be delisted from the NASDAQ because "it has not filed its annual 10-K report with the SEC". The company claims it's because "it is examining matters related to stock issued as part of its compensation plans". SCO Stock is sitting at $4.30 at opening today. It'll be interesing to see where it goes from here."
SCO Lawyer: Ladies and gentlemen of this supposed jury, I have one final thing I want you to consider: Ladies and gentlemen, this is Chewbacca. Chewbacca is a Wookiee from the planet Kashyyyk...
Judge: Wait a minute! I'm not going to let you use the Chewbacca defense. This is a carny-like head game from the television show South Park.
SCO Lawyer: But Chewbacca lives on the planet Endor. Now, think about that. That does not make sense! Why would a Wookiee--an eight foot tall Wookiee--want to live on Endor with a bunch of two foot tall Ewoks? That does not make sense! But more important, you have to ask yourself, what does this have to do with this case? Nothing. Ladies and gentlemen, it has nothing to do with this case! It does not make sense! "Look at me, I'm a lawyer defending SCO, and I'm talkin' about Chewbacca. Does that make sense? Ladies and gentlemen, I am not making any sense. None of this makes sense! And so you have to remember, when you're in that jury room deliberating and conjugating the Emancipation Proclamation... does it make sense? No! Ladies and gentlemen of this supposed jury, it does not make sense. If Chewbacca lives on Endor, IBM must have stolen our code we GPL'ed and put on our public FTP site. [pulling a monkey out of his pocket] Here, look at the monkey. Look at the silly monkey! [Judge's head explodes]
- Just my $0.02, take with a grain of salt, your mileage may vary.
SCO is dying...
In the USA, we like stuff watered down, like beer, television, and freedom.
... when you don't fill your TPS Report.
Since SCO has stocks issued to the public, aren't they required to fill out the proper paperwork? How does one who own SCO stock supposed to sell his stock? Can they do this w/o getting sued by their share holders?
I mod down so you can mod up. Your welcome.
SCO Stock is sitting at $4.30 at opening today. It'll be interesing to see where it goes from here.
It will go up. Where else would it go? Afterall they own linux code. And very soon every linux user will be paying them $699 license fees
They just don't want people to be able to watch their stock anymore, so they've made this move to change their stock symbol. Security through obscurity, indeed.
Ryan Fenton
Here is the story: http://ca.us.biz.yahoo.com/prnews/050217/lath062_1 .html
-- these are only opinions and they might not be mine.
Knock! Knock!
Who's there?
SCO!
SCO who?
Symbol change tomorrow:1 .html
http://ca.us.biz.yahoo.com/prnews/050217/lath062_
Flourescent (adj): smelling like ground wheat.
You're getting ahead of yourself. We're still at the part where the which is saying "I'm melting! I'm melting!"
Only after the witch is well and truly gone do you sing that. In the meantime, we stare in simultaneous horror, awe, and delight.
Inconceivable!
this whole story seems little more than gloating and hardly worthy of a /. post
/. clearing up the FUD, their stock would probably still be flying high on rampant speculation.
This isn't gloating, it's war. We can gloat when the litigious bastards are out of business completely.
Slashdot is read by zillions of people who can not only sell their SCO, but also advise others to do so. Slashdot is also read by all kinds of mainstream journalists who might not otherwise notice what SCO is up to. One could argue it's been a damned effective campaign so far. Were it not for
...to use the new cover sheet on their 10-K report. Did SCO get that memo?
It'll be interesing to see where it goes from here.
I predict it'll be going downhill....if there's any downhill left, that is.
/\ \o/
\ | <--- Darryl
\^
\
\
An Indian-American Hindu committed to non-violent thought/speech/action alarmed by the global explosion of radical Islam
The rules that lead to being delisted are pretty cut-and-dried. However, a company with a solid business plan to rescue themselves will more often than not be given a break and allowed to remain listed while they work things out. Failing to file your 10-K is almost never an "accident". Add to that the fact that SCO really has no business plan beyond lawsuits and I think we'll likely be seeing them de-listed fairly rapidly.
It's simple: I demand prosecution for torture.
If the nasdaq adds an 'e' to the symbol then SCO will have 30 days to file the 10-k before they are delisted. Also the nasdaq routinely allows companies to extend the 30 day deadline if the company can make a case for why they are late in filing....so while they are likely to get an e I find it unlikely they will allow themselves to be delisted.
Not filing your SEC filings is always bad. When it gets so bad NASDAQ delists you, it means that you are about to get sued, and get sued hard. I can pretty much guarantee a Section 10(b) fraud class action gets filed against SCO in the near future. And I also am willing to bet the SEC will start investigating them as well... Good thing they have plenty of lawyers....
Armchairgenius.com - Where everyone is a genius.
Well, TFA is a Reuters article pointing out that the SEC is considering de-listing a publically traded company because they are in arrears wrt the paper-work they are required to have on file.
This publically traded company is involved in lawsuits that affect several companies and technologies.
It's not as if it's a link to some guys blog -- clearly Reuters thinks it's worth mentioning.
Lost at C:>. Found at C.
Like the slow realization that all of their income was just sent to David Boies and now there's nothing left to pay the temps that put together the filing for the SEC?
I'm not tense. I'm just terribly, terribly, alert.
If SCO dies during the trial , where does that leave the whole Linux IP issue ? Not proven ? Wouldn't it be better if they can at least survive until they get totally defeated in court, as a deterrent against other legal attacks ?
After Enron crashed, their stocks certificates actually became worth more as souvenirs than any possible redemption value (little or none.)
anyone else notice that under "products and services", SCO lists its court cases?
very funny and depressing at the same time.
SCO's paying their lawyers in stock, which explains their entire strategy: keep the stock price elevated, and cash them in, before they inevitably lose the case and it all collapses. Delisting SCO right away could castrate that strategy, if the lawyers haven't sold any stock yet. Maybe those sharks won't be able to afford to defend themselves from an SEC investigation of that criminal strategy, and get disbarred.
--
make install -not war
Were it not for /. clearing up the FUD, their stock would probably still be flying high on rampant speculation.
Darryl : "aaarg. And I would have succeeded if it weren't for those pesky slashdotters and their stupid dog!"
Bet this
Couple points:
1. Many brokers don't let you short a stock that is below $5.
2. Delisting a stock decreases liquidity which can make it very difficult to cover your short if the stock rises precipitously.
Unlike buying a stock which has a limited downside potential (the stock goes to $0 in which case you lose your entire investment), shorting a stock has a theoretically infinite downside potential. If you short a stock at $4.30 and it goes up to $1,000,000 per share, you've lost almost a million dollars for each share you shorted. Of course, that's not realistic, but the point is that shorting a stock is not to be taken lightly.
I'm a big tall mofo.
The "10-K" is the backup data behind a company's annual report. It's the single most important disclosure of a company's financial status. The SEC allows 3 months after the close of the fiscal year for a 10-K filing. SCO's year closed at the end of October, and their 10-K was due at the end of January. Late filing of a 10-K or 10-Q (the quarterly report) is considered a major red flag for a stock. When I was following dying dot-coms, a late 10-K or 10-Q was a strong indicator of trouble. Nobody files late because they have unexpectedly good numbers.
SCO filed an NT-12K form with the SEC, asking for a 15-day extension. "The Company currently anticipates that the Form 10-K will be filed by no later than the fifteenth calendar day following the date on which the Form 10-K was due." They missed that date, too.
There has to be something really embarassing in the compensation plan. Really embarassing, if they're willing to risk delisting from the NASDAQ.
Delisting kicks a stock down to the pink sheets. That's where the penny stocks favored by spammers and scammers live.
Were it not for /. clearing up the FUD, their stock would probably still be flying high on rampant speculation.
I suspect that GrokLaw has quite a bit to do with it, too...
General Relativity: Space-time tells matter where to go; Matter tells space-time what shape to be.
Judge: Closing Statements.
SCO Lawyer: Ladies and Gentlemen of the jury, I'm just a caveman. Your world of technology frightens me. I don't understand computers and the devils inside of them that make all those pretty pictures and noises. But the one thing I do know is that SCO owns Linux.
Jury Foreman: Your honor, we find for SCO and their Caveman Lawyer.
Slashdot only occaisionally has a story about SCO. And when they do, such as the current thread, it is already (very) old news.
If you want to know what is going on with SCOXE, you need to follow Growlaw every day, and also the SCOX message board at Yahoo.
This is very worthy of a Slashdot post. These bastards have told huge lies in the media and press. Made the most outrageous claims about Open Source, the GPL (unconstitutional, communists, etc.), created a cloud of FUD about Linux intellectual property, and even a FUD cloud about open source in general. They have engaged in a stock scam to unjustly enrich themselves while doing the previously mentioned things. They have claimed to own rights that they do not own. They have accused everyone who uses Linux (that is me personally) of owing them license money. They have sued Linux users (although not over Linux use per se). They have threatened to sue any Linux user (i.e. me personally). They have produced not one shred of evidence that they own anything in Linux.
This is not gloating.
The truth needs to come to light. Anyone found to have engaged in criminal activity should be prosecuted.
Those who would give up liberty in exchange for security and DRM should switch to Microsoft Palladium!