SCO Files Chapter 11 Bankruptcy
 

On Friday afternoon, both SCO Group and its subsidiary SCO Operations, Inc. filed voluntary petitions for Chapter 11 bankruptcy in US Bankruptcy Court in Delaware.

Trading in SCOX was halted on the NASDAQ exchange ahead of the news but resumed before closing. SCO stock lost 43% on the news, ending the day at 37 cents per share.

The bankruptcy filing canceled the SCO v. Novell trial that had been scheduled to begin Monday in the courtroom of US District Court Judge Dale A. Kimball. It automatically stayed that lawsuit and all of SCO's other pending litigation with IBM, Autozone and Red Hat.

News source: Original Article
News source: Groklaw via The Inquirer

Wow, after all that drama they are going under.

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