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SCO trading suspended in US

But what of the sale to UnXis?

Kelly Fiveash Wed 6 Apr 2011 // 09:59 UTC

The US Securities and Exchange Commission has temporarily halted trading in SCO shares.

The software company, which filed for bankruptcy in September 2007, has been hampered by legal costs and falling sales, after a US judge ruled that Novell, not SCO, was the owner of the Unix and UnixWare copyrights.

SCO was further crippled by the ruling that demanded the outfit paid royalties to Novell for Unix licences that it had sold to Sun Microsystems and Microsoft.

In September 2010, a US bankruptcy court approved SCO's request to sell off its software business.

"It seems not filing anything for a couple of years gets the SEC's attention eventually, even if nothing else does," noted Groklaw, who pointed out the halted shares trading status of SCO yesterday.

"So a temporary suspension. Meanwhile, one presumes the sale of substantially all of SCO's assets to UnXis has happened. The judge on March 7 gave Novell 14 days to appeal, if they chose to, and they chose not to," reads the blog post.

In February, SCO said it had selected UnXis Group to buy its software product business. ®

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