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SCO's attempts to rescue its relationship with BayStar Capital, its biggest backer, have come to naught. On Friday morning, Eastern time, SCO announced that the stock buyback deal it agreed with the unhappy investment firm had closed. Two hours and five minutes later, Baystar issued a statement saying that a) no it hadn't and b) we'll see you in court, matey. BayStar is the sole remaining major investor in SCO. Last year, it invested $20m in Series A stock, and then picked up another $20m worth of stock offloaded by the Royal Bank of Canada. In April, it told SCO...

The SCO(R) Group, Inc. Receives Request From BayStar Capital II, L.P. to Redeem Shares of Series A-1 Convertible Preferred Stock Friday April 16, 1:45 pm ET LINDON, Utah, April 16 /PRNewswire-FirstCall/ -- The SCO Group, Inc. ("SCO") (Nasdaq: SCOX - News), the owner of the UNIX operating system, received a letter on April 15, 2004 from BayStar Capital II, L.P. requesting that SCO immediately redeem BayStar's 20,000 shares of SCO's Series A-1 Convertible Preferred Stock. The letter asserts that BayStar is entitled to the redemption of its shares under Article VII.A(vii) of the Certificate of Designation, Preferences and Rights of...