Tuesday, June 12, 2007

SCO Avoids Delisting

Lindon, Utah-based Unix software firm SCO has avoided delisting on the Nasdaq, saying today that it has received a Clearance Letter from the Nasdaq saying that the firm has regained compliance with Nasdaq Marketplace Rule 4210(c)(4). SCO had previously disclosed in April that its stock had failed to comply with the minimum $1.00 bid price on the exchange. The clearance means that the firm's stock will not be delisted from the Nasdaq. This is the second time that SCO has avoided delisting on the exchange, having avoided the same fate in 2004 over late 10-K filings. SCO is a developer of Unix software, and is best known for its ongoing legal battle with IBM and others over the use of Unix source code in the open source operating system Linux.