SCO Receives Nasdaq's Delisting Notice

An anonymous reader writes "This somewhat amusing press release of sorts tells us one of those things we've all been waiting a while for. SCO(X) has announced that 'it received a Nasdaq Staff Determination letter on December 21, 2007 indicating that as a result of having filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the Nasdaq Listing Qualifications Panel has determined to delist the company's securities from the Nasdaq Stock Market and will suspend trading of the securities effective at the open of business on Thursday, December 27, 2007.' PJ at Groklaw has surmised that with effectively zero cash resources left, Novell doesn't stand to get much more than SCO's furniture, if even that. Ding dong, is the wicked witch finally dead yet?"

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"If there is any justice, the executives and the lawyers are held liable. Why include the lawyers? While it was a frivolous lawsuit brought by the company, the lawyers were the ones executing dirty tactics in the court while getting paid by the millions. They knew well what they were doing."

It's worse than that - part of their compensation was stock. That means that they were
a) part owners of the company, and
b) they had an inherent conflict of interest as officers of the court. They had a huge incentive to act unethically with the lawsuit - they didn't get paid unless SCOX stayed at a high value, which is substantially different from getting paid if they won the suit.