SCO's stock closed at $2.21 on Thursday, a few hours before the lawsuit alleging that IBM misappropriated SCO trade secrets was announced. On Friday, the stock surged 40 percent to close at $3.10, and Bench filed to sell shares Monday at $3.06. SCO's stock since then has slipped down to close at $2.40 on Tuesday. SCObut changed its name to reflect the fact that most of its revenue came from Unix products acquired in 2001.
SCO Group Chief Financial Officer Robert Bench sold 7,000 of his 245,000 SCO shares Monday, two business days after the Unix software company's stock price surged on news of a , according to a filing with the Securities and Exchange Commission. The sale was part of a routine monthly stock action and had been planned in January, the company said.