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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.
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.
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
\^
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An Indian-American Hindu committed to non-violent thought/speech/action alarmed by the global explosion of radical Islam
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.
1999
In Soviet Russia, asses suck this joke.
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
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.
Because the company was mismanaged. Because the executives were negligent in performing their duties.
Shareholder lawsuits happen all the time. You don't follow business news, do you?