SCO Avoids Nasdaq Delisting, But Problems Remain - InformationWeek
Software // Information Management
02:45 PM
[Dark Reading Crash Course] Finding & Fixing Application Security Vulnerabilitie
Sep 14, 2017
Hear from a top applications security expert as he discusses key practices for scanning and securi ...Read More>>

SCO Avoids Nasdaq Delisting, But Problems Remain

Last week, SCO reported a second-quarter loss of $1.1 million on revenue of $6 million.

Troubled software vendor SCO Group has avoided having its shares pulled from the Nasdaq stock exchange -- for now at least.

The company said Tuesday that it received a letter from Nasdaq officials indicating that it has fulfilled the requirements for maintaining its listing.

Earlier this year, Nasdaq officials threatened to pull the listing because SCO's share price had fallen below the $1-per-share mark for 30 days. Because SCO shares subsequently traded above $1 for at least 10 days, Nasdaq has lifted the delisting threat, SCO said.

Last week, SCO reported a second-quarter loss of $1.1 million on revenue of $6 million. The company is in the midst of several costly legal fights over rights to Unix and software code contained within the Linux open source operating system.

The company sued IBM in 2003 for allegedly contributing SCO intellectual property contained within SCO's Unix offering to the Linux community. It has also sued Novell, AutoZone, and DaimlerChrysler.

The open source software community denies SCO's claims that Linux infringes on SCO's intellectual property.

To date, SCO has spent more than $11 million pursuing its legal actions. In its most recent full quarterly report, the company conceded that a failure to prevail in court could put it out of business.

"We may not prevail in our lawsuits with IBM, Novell, and others, which may adversely affect our ability to continue in business," SCO stated in the filing.

In midafternoon trading Tuesday, SCO shares were up 2.3% to $1.32.

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll