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SCO files for bankruptcy

09/14/07 | by admin [mail] | Categories: computer/tech

Good riddance.

SCO is best known these days for its baseless intellectual property claims against Linux companies and Linux users, but as it became increasingly clear that the legal cases against IBM, Novell, Red Hat, and others were without merit, the stock price dropped as investors stopped betting on the cash boon they were gambling on winning. The company's stock lost 43% of its value today, last trading at 37 cents, down from around $20 a share in 2003, shortly after the company filed its first lawsuit.

Thirty-seven cents! This should serve as a lesson to any other companies that are trying to make baseless lawsuits their main source of income [cough, RIAA, cough].

(via Linux.com)

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