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BayStar Cashes Out of SCO Stock
The Almighty Buck
Posted by michael on Fri Apr 16, '04 02:26 PM
from the gotta-know-when-to-fold-'em dept.
Kurt Wall writes "According to Yahoo! Finance, BayStar, the company that funded SCO to the tune of $50,000,000, and then later changed the terms of the deal, has requested that SCO redeem the 20,000 shares of preferred stock issued in return for the funding. The reason? BayStar states that 'SCO has allegedly breached Sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement.' Naturally, SCO thinks it has done nothing of the sort."


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