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UPDATE: NY investment management company offers to buy SCO for $36M

Posted by Sander_Marechal on · 8 comments
Daily Herald; By Grace Leong
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The SCO Group is seeking U.S. Bankruptcy Court approval to sell its Unix business to a New York investment management firm for $36 million, according to documents filed today with the U.S. Securities and Exchange Commission. The Lindon company said it sought court approval on Tuesday for an agreement it entered into with JGD Management Corp. doing business as New York-based investment firm York Capital Management LLC, to sell "substantially all assets used by (SCO) in connection with its Unix business and certain related claims in litigation." The offer also includes up to $10 million in funding for SCO's litigation expenses.

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Comments (8)

that's a lot of money for staplers and desk organizers

Because there is no Unix business, is there?
I believe that's what you call a high-risk, high reward investment. It's like playing the lottery - if things do turn out wrt the lawsuits, they will look like geniuses.

At least that's all I can think of for why they would pay so much for a company with no serious prospects of being profitable based on sales.
IMHO the buyer is likely after SCO's customer list.

Before you scoff at the idea, just think about it: a source of gullible people with lots of money to spend, ready for the taking - it's a scammer's dream, which could easily pay for itself many times over if handled correctly.

Good grief, if these sheeple have been lining up to pay for fake SCO IP licenses, or spending IT money on the overpriced and underwhelming sco unix, imagine what they could cough up, if they were played skillfully.
What is this company's name? That is one thing I'd like to know right now.

Let's get this out of the way...

If you compare this report http://www.secinfo.com/d14D5a.v3DS3.htm to this report http://www.secinfo.com/d12TC3.v1Eyf.htm then you'll notice the company's holding of Microsoft shares increased from 500,000 to 1,100,000 in that six month period.

*ALARMS* *BELLS* *WHISTLES* *SIRENS* *FLASHING RED LIGHTS* NoDough performs the monkey dance chanting "Collusion collusion collusion (repeat ad naseum)"

OK, that's done. On with life.
For some more conspiracy theories, did you already read on Groklaw that one if the investors in IP Innovation's parent is Baystar? Yep, the same Baystar that invested in SCO on advice of Microsoft.

http://www.groklaw.net/article.php?story=20071020193753215&q...
Thank you NoDough. I'll take a look at the links provided. When I read that initial report from the Register, I knew something wasn't right...
This just means that they think there's a chance the SCO lawsuits might not be dead. As I posted elsewhere, they'll look like geniuses if they somehow prevail.

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