The SCO Group Receives Nasdaq Notice Letter
September 19 2007 - 5:08PM
PR Newswire (US)
Intends to appeal according to Nasdaq Marketplace Rule 4800 Series
LINDON, Utah, Sept. 19 /PRNewswire-FirstCall/ -- The SCO Group,
Inc. (the "Company") (NASDAQ:SCOX), a leading provider of UNIX(R)
software technology and mobile services, today announced it
received a notice from The Nasdaq Stock Market indicating that the
Company's securities will be delisted from Nasdaq on September 27,
2007, pending an appeal. The Nasdaq Staff Determination Letter
received on September 18, 2007 indicated that as a result of the
Company's having filed for protection under Chapter 11 of the U.S.
Bankruptcy Code, the Nasdaq Staff has determined, using its
discretionary authority under Nasdaq Marketplace Rules 4300 and
IM-4300, that the Company's securities will be delisted from The
Nasdaq Stock Market and that trading in the Company's common stock
will be suspended unless the Company requests a hearing to review
the determination. Pursuant to Nasdaq Marketplace Rule 4804(b), the
Company is making a public announcement disclosing receipt of the
letter. The suspension of the Company's common stock is currently
set to occur at the opening of business on September 27, 2007.
However, an appeal will stay the suspension of the trading of the
Company's securities pending a panel decision by a Nasdaq Listing
Qualifications Panel. The Company intends to request a hearing to
review the determination. There can be no assurance that the panel
will grant the Company's request for continued listing. About SCO
The SCO Group (NASDAQ:SCOX) is a leading provider of UNIX software
technology and mobile services. SCO offers UnixWare for enterprise
applications and SCO OpenServer for small to medium businesses.
SCO's highly innovative and reliable solutions help customers grow
their businesses everyday, especially into the emerging mobile
market. SCO owns the core UNIX operating system, originally
developed by AT&T/Bell Labs and is the exclusive licensor to
UNIX-based system software providers. The Me Inc., product line
focuses on creating mobile platforms, services and solutions for
businesses and enhances the productivity of mobile workers.
Headquartered in Lindon, Utah, SCO has a worldwide network of
thousands of resellers and developers. SCO Global Services provides
reliable localized support and services to partners and customers.
For more information on SCO products and services, visit
http://www.sco.com/. SCO and the associated logos are trademarks or
registered trademarks of The SCO Group, Inc. in the U.S. and other
countries. Forward Looking Statements The statements contained in
this press release regarding the Company's intention to request a
hearing before a Nasdaq Listing Qualifications Panel are
forward-looking statements and are made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations and
are subject to risks and uncertainties. We wish to advise readers
that a number of important factors could cause actual results to
differ materially from historical results or those anticipated in
such forward-looking statements. These factors include, but are not
limited to, outcomes and developments of our Chapter 11 case, court
rulings in our bankruptcy proceedings, the impact of the bankruptcy
proceedings on our other pending litigation, and our cash balances
and available cash. These and other factors that could cause actual
results to differ materially from those anticipated are discussed
in more detail in the Company's periodic and current filings with
the Securities and Exchange Commission, including the Company's
Form 10-K for the fiscal year ended October 31, 2006 and Forms 10-Q
for the fiscal quarters ended January 31, 2007, April 30, 2007 and
July 31, 2007, and future filings with the SEC. These
forward-looking statements speak only as of the date on which such
statements are made, and the Company undertakes no obligation to
update such statements to reflect events or circumstances arising
after such date. DATASOURCE: The SCO Group, Inc. CONTACT: Deborah
Gillman of The SCO Group, Inc., +1-801-932-5302, Web site:
http://www.sco.com/
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