SCO Group files for Chapter 11 Bankruptcy

Posted by number6x on Sep 14, 2007 1:18 PM EDT
Groklaw; By Pamela Jones
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Groklaw is reporting that "The SCO Group Files Chapter 11 to Protect Assets as It Addresses Potential Financial and Legal Challenges". Trading shares of SCOX stock was halted on the NASDAQ several hours ago, and there was speculation as to why. Now the SCO Group has put out a press release explaining why.

After many continuous quarters of financial loss, and eroding stock prices, the Lindon Utah based SCO Group has declared bankruptcy.

A full copy of the press release, some analysis, and discussion can be found on Groklaw.

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Tuxrocks has copy of fililing number6x 13 1,337 Sep 16, 2007 10:06 PM

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