Enterprise Linux Log

Sep 20 2007   8:33AM GMT

NASDAQ serves SCO with delisting notice


There’s piling on, and then there’s what happened to the hapless SCO today. Just to recap, SCO basically lost its years-long case against Novell and the Linux operating system earlier this month and then just this week announced it would enter into chapter 11 bankruptcy protection.

And today? SCO fired off a press release announcing it received a notice from The Nasdaq Stock Market indicating that the company’s securities will be de-listed from Nasdaq on September 27, 2007, pending an appeal.

The bare bones press release:

The Nasdaq Staff Determination Letter received on September 18, 2007 indicated that as a result of the Company’s having filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the Nasdaq Staff has determined, using its discretionary authority under Nasdaq Marketplace Rules 4300 and IM-4300, that the Company’s securities will be delisted from The Nasdaq Stock Market and that trading in the Company’s common stock will be suspended unless the Company requests a hearing to review the determination. Pursuant to Nasdaq Marketplace Rule 4804(b), the Company is making a public announcement disclosing receipt of the letter.

The suspension of the Company’s common stock is currently set to occur at the opening of business on September 27, 2007. However, an appeal will stay the suspension of the trading of the Company’s securities pending a panel decision by a Nasdaq Listing Qualifications Panel. The Company intends to request a hearing to review the determination. There can be no assurance that the panel will grant the Company’s request for continued listing.

As this now infamous case (and it’s getting a bit tiresome too, no?) begins to wind down with a series of weekly sputters, coughs and stumbles, I can’t help but think of how irrelevant it’s all become to our audience here at the Log and on SearchEnterpriseLinux.com. So, barring any unforeseen apocalyptic events stemming from the appeals process that’s sure to come, I will not be reporting much on SCO anymore.

Good riddance? Not really. Just irrelevant.

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