SCO offers to buy employee stock
The company, best known for its legal dispute with IBM over Linux, is addressing regulatory compliance problems.
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The SCO Group has taken a step to address previously disclosed regulatory compliance problems by offering to buy back 312,806 shares that employees had bought from 2003 through 2005. The Lindon, Utah-based company, best known for its high-profile legal attack against IBM and others involving Linux and Unix intellectual property, disclosed the offer Thursday in a filing with the Securities and Exchange Commission.
Because it offered the shares through its employee stock purchase program without fully complying with regulations, SCO offered to buy back the stock for the original price plus interest.