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SCO Admits They Might Just Not Win - Maybe

Posted by Zonk on from the it-tolls-for-thee-sco-it-tolls-for-thee dept.

inetsee writes "According to Groklaw, SCO has admitted in a 10K filing that if the court grants any or all of IBM's six motions for summary judgement, 'We can not guarantee whether our claims against IBM or Novell will be heard by a jury.' The site goes through a statement by statement run-down of SCO's filing, noting things like the absence of employee numbers (a piece of information they told investors they would disclose). Elsewhere in the document, it is revealed that SCO's stock is in danger of being delisted from NASDAQ, they may come under further litigation from an unrelated legal matter, and SCO is now claiming that OSes like HP-UX and Solaris are derivatives of code that they 'own'. Despite the dire pronouncements throughout the filing, if everything else runs according to plan their 10K indicates they could keep fighting the good fight for another 12 months."

6 of 126 comments (clear)

  1. SCO should skip Trial by Jury by Anonymous Coward · · Score: 5, Funny

    ...and demand Trial by Combat.

    And I'm not just saying that because I want Darl whacked by a sword.

    1. Re:SCO should skip Trial by Jury by Teresita · · Score: 5, Funny
      And I'm not just saying that because I want Darl whacked by a sword.

      IBM: What are you going to do, bleed on me?

      SCO: I'm invincible!

      IBM: You're a looney.

      SCO: SCO always triumphs! Have at you! Come on, then. [whop]

      [IBM chops SCO's last leg off]

      SCO: Oh? All right, we'll call it a draw.

      IBM: Come, Patsy.

      SCO: Oh. Oh, I see. Running away, eh? You yellow bastards! Come back here and take what's coming to you. I'll bite your legs off!

  2. Re:Stock price... by Spad · · Score: 5, Insightful

    Which is exactly what SCO want - to be bought up rather than to lose the case and end up bankrupt.

    Not to mention the precedent it would set for other low-lifes to start legal action against IBM with the hope of being bought.

  3. Re:Stock price... by stanmann · · Score: 5, Funny

    IBM could have bought them any time they wanted. They haven't because they're going to kill them, burn them, stomp the ashes, salt the earth, burn the salted earth, burn the salty earthy ashes, stomp that out, pour gasoline around, burn the remaining mess, and then piss on it to put it out.

    --
    Food not Bombs is a nice platitude but it breaks down when you notice that the Bombees are usually well fed
  4. Re:1000 times par value, still. by tessaiga · · Score: 5, Informative
    Not sure who modded you insightful, but in today's regulated markets, par value for stocks is essentially a meaningless concept. Companies can basically set it at whatever value they like, and it has no relation to the IPO value or any other meaningful quantity. From the Motley Fool glossary:

    Par value (stock)

    An arbitrary dollar value that a company assigns to its shares. Par value has no economic significance. The legal significance of par value is, roughly, that if shares are issued below par value, the holders of those shares might be assessed the difference between par value and the issue price. Most stock certificates state that the shares are fully paid and nonassessable to indicate that holders are not on the hook for additional contributions because the shares were issued at a price greater than par value. Companies usually assign a very low par value to common stock.

    Not to mention, most CxOs and other highly-placed insiders make their money from option grants, whose strike price the company's board can set to guarantee a profit for the recipients no matter where the current stock price is.
    --
    The bold print giveth, and the fine print taketh away ...
  5. Scox has already won by walterbyrd · · Score: 5, Interesting

    When Darl was hired as CEO, just before the scam began, about four years ago. Scox's market cap dropped below $6M. Scox was on the brink of delisting and bankruptcy. Now scox's market cap is over $20M.

    Kevin McBrid pulled in $885K in the last two years. Darl probably made about $2M since the scam began. Not bad for small time scammers. Scox's law firm, BSF, has made over $30M. And the company that financed the entire scam, MSFT, is getting five years of top quality FUD for a meager $50M.

    Scox never expected a victory in court, scox expected either a quick settlement, or scox would just loot as much msft FUD money as possible.

    Scox was just given more delay - yet another scox victory.