SCO Gets A Lifeline; Plans To Continue Quixotic Legal Quest
from the throwing-good-money-after-bad dept
Thought SCO was dead? Yup, you’re not the only one. But, with big private equity firms willing to bet huge amounts on questionable intellectual property claims, it really shouldn’t be a surprise that one came to SCO’s rescue. Stephen Norris Capital Partners has dumped $100 million into SCO, taking the company private. Not surprisingly, a big reason for the lifeline is to continue the company’s legal battles. These are the same legal battles that propped up the company’s stock and allowed some insiders to cash out — but which have yet to result in a single significant court win, while racking up numerous losses. SCO has insisted for years that it had various “smoking guns,” but went into bankruptcy without revealing a single one. Why is it that suddenly these investors believe the company can actually win a legal battle?