SCO Names New CFO
The SCO Group announced last week that it has hired Bert Young as its new chief financial officer. SCO is not saying whether the move is connected to BayStar Capital Managements attempt to pull its investment in SCO.
On April 15, SCO executives said BayStar Capital was seeking to redeem its 20,000 shares of SCOs series A-1 convertible preferred stock.
BayStar alleges that SCO breached sections of a February financing agreement among SCO, BayStar and the Royal Bank of Canada. BayStar invested $20 million in SCO.
Prior to this move, it was found that Microsoft lobbied BayStar to invest in SCO.
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