Posted on 06/08/2004 6:40:30 AM PDT by N3WBI3
It was a Hail Mary bet, but BayStar and the Royal Bank of Canada (RBC) (NYSE: RY) invested $50 million, in the form of convertible preferred shares, in SCO Group (Nasdaq: SCOX) earlier this year. The money was not to build products; instead, it was to pay attorneys to litigate against major players in the Linux marketplace because of alleged violations of SCO's intellectual property.
SCO has not been modest in selecting defendants, which include such deep pockets as IBM (NYSE: IBM), DaimlerChrysler (NYSE: DCX), and AutoZone (NYSE: AZO). The IBM suit, for example, has a claim for $5 billion. That would certainly be a nice hit to the balance sheet for SCO, which has a market cap of $82 million.
(Excerpt) Read more at fool.com ...
Lets see it was 22 in Nov and its less than six now oh yea... Of course they got a bump when the settled with baystar. What you should be asking yourself is why did baystar want to bail in the first place?
Who knows, it could be because IBM never loses a court case, they even outlasted the US Federal Government after how many years of anti-trust trials was it? Doesn't mean IBM was innocent though, that's for sure.
It also does not mean IBM is guilty, thats for sure..
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.