I’ve been saying this was going to happen…
“The SCO Group, Inc. (”SCO”) (Nasdaq: SCOX - News), a leading provider of UNIX® software technology and mobile services, today announced that it filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code. SCO’s subsidiary, SCO Operations, Inc., has also filed a petition for reorganization. The Board of Directors of The SCO Group have unanimously determined that Chapter 11 reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, and employees.”
I’d say this was really an attempt for SCO to get out of paying all the money it’s been “collecting” for the true copyright holders. Plus a chance to defray some of its other costs at the same time. I hope a judge looks at them and forces them to take a chapter 13 liquidation instead.
Looking at their Financial situation via the price of its stock… I’d say its ready for liquidation.
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