SCO Group gets the boot from Nasdaq

The SCO Group shares are removed from the Nasdaq market after the company loses its appeal about the issue.

The Nasdaq market has delisted The SCO Group, the Linux-seller-turned-Linux-litigant now in Chapter 11 bankruptcy protection.

The Lindon, Utah-based company's shares were taken off the Nasdaq because of the bankruptcy proceedings, the company said Thursday in a statement. The company had appealed Nasdaq's decision to do so but lost its appeal on December 21, the company said in a regulatory filing with the Securities and Exchange Commission.

The company filed for bankruptcy protection in the wake of years of steadily declining Unix revenue and a court ruling in August that crippled its legal argument that its proprietary Unix technology is used in open-source Linux. A court ruled Novell still holds the Unix copyrights.

Featured Video

Apple dethroned as world's most highly valued company

An old foe with a new name took the title away from Cupertino. Also, Yahoo's looking at yet another big shake-up.

by Iyaz Akhtar