Glub, Glub: SCO Drops Off the Nasdaq
It finally happened. SCO has been delisted from the Nasdaq.In the almost five years since SCO launched its attack on Linux and IBM, open-source and legal experts have predicted that SCO would fail and the company would collapse with its lawsuits. That day is one day closer at hand. On Dec. 27, SCO was delisted from the Nasdaq. There's no surprise here. After several escapes from being delisted, the Nasdaq had been seeking to remove SCO from its trading floor for two reasons: The Unix company had filed for Chapter 11 bankruptcy, and the stock's price had declined below a dollar a share for 30 business days. In the end, it was the bankruptcy that pushed SCO off the Nasdaq and into the pink sheets of penny stocks. The Nasdaq on Dec. 21 had informed SCO that Dec. 27 would be its last day on the big board, but SCO only notified the public on the day it actually exited the market.
SCO had had a spark of hope that York Capital would buy it out of the jaws of bankruptcy and into private ownership. The York deal came to nothing, though.