Monday, April 30, 2007

SCO Faces Nasdaq Delisting

Lindon, Utah-based SCO Group said late Friday that the firm has received a Nasdaq Staff Deficiency Letter, saying that the firm fails to comply with the minimum bid price requirement for continued listing on the exchange. According to the firm, the letter gives SCO notice that its common stock has closed under $1.00 for the last 30 business days. The firm has 180 days to regain compliance with the listing price requirement. This is the second time the firm has faced delisting on the Nasdaq; the firm had faced delisting in 2005 over late filing of quarterly reports, which it cleared in April of 2005. SCO is a provider of UNIX software, and is currently in battle with IBM over the Linux operating system.