SCO execs cashing out -- another twist to the blackmail

[DaveSimmons]

The obvious reason for SCO's linux suits was to shakedown companies for license fees and/or to sell the company at an inflated price to someone like IBM to make the suits go away.

But apparently the SCO execs have a second plan: to cash out some shares now while guillable investors have temporarily pumped up the stock pice.

ZDNet story
"SCO's chief financial officer, Robert Bench, has sold 14,000 shares in the company since June. . . .(and) . . .the vice president of worldwide marketing, Jeff Hunsaker, has sold nearly $230,000 of his stock, reducing the number of shares he holds by 42 percent

Hunsaker, and several others, still have plenty of stock options left; thanks to the grants they received three weeks after the legal action against IBM began. "

There's more on how SCO can issue up to 46 million shares of stock any time it wants to, while there are currently only 13.5 million shares in the market now. Employees are also holding 4 million options, which if cashed out could make a huge blow to per-share value.

This is almost Enron-like in how the execs can cash out before the lawsuit collapses, leaving investors holding the crumbling shell of a worthless company.

 

[Schadenfroh]

Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO, Die SCO,

 

[DivideBYZero]

SCO = Prix

 

[DaveSimmons]

"SCO -- We Hold the Copyright on Evil"

 

[FeathersMcGraw]

There is no emoticon for how I feel!

 

[LordRaiden]

See?? I told you this was a pump and dump. These guys are just out to make a buck by telling a lie and I think the FTC and the SEC should have been all over this like a fly on sh*t a long time ago. Oh well, it will be fun when these guys are lead off to jail to becomes someone's GF for about 30-50 years.

 

[Vette73]

Originally posted by: LordRaiden
See?? I told you this was a pump and dump. These guys are just out to make a buck by telling a lie and I think the FTC and the SEC should have been all over this like a fly on sh*t a long time ago. Oh well, it will be fun when these guys are lead off to jail to becomes someone's GF for about 30-50 years.

What have they done that is illegal?

Maybe not ethical, but illegal????

 

[LordRaiden]

They're attempting a pump and dump scheme which is EXTREMELY illegal and the SEC should have not only seen this but brought this whole fiasco to an end. You know how you cure a pump and dump scheme? Simple. The SEC locks in those they suspect of attemping this and forbids them from selling their stocks until a given date. So if this is a true pump and dump, well, the only people getting burned is the execs.

That'll cure them of trying to schame a whole lotta people. :|

 

[Vette73]

Originally posted by: LordRaiden
They're attempting a pump and dump scheme which is EXTREMELY illegal and the SEC should have not only seen this but brought this whole fiasco to an end. You know how you cure a pump and dump scheme? Simple. The SEC locks in those they suspect of attemping this and forbids them from selling their stocks until a given date. So if this is a true pump and dump, well, the only people getting burned is the execs.

That'll cure them of trying to schame a whole lotta people. :|

They do have IP for some Unix code. Now does it extend to linux???

But this is not a Pump and Dump. P&D implies you are pumping up your stock with wrong, illegal, or bad faith knowlegde or rights. They do have IP rights to some Unix. So again, unethical... yes, illegal... probable not.

And if it is a P&D then you should be shorting the stock right now. That way when it does fall you will be in the winners seat.


Also just read this at yahoo

"So far, SCO's efforts have paid off with other companies licensing Unix for their own use or to develop software that works with Unix. Microsoft Corp. (NasdaqNM:MSFT - News), the world's largest software maker, licensed Unix rights from SCO and recently SCO confirmed that Sun Microsystems Inc. (NasdaqNM:SUNW - News), a major distributor of Unix-based systems, was also a licensee."

So even Sun and microsoft have jumped on board.

 

[DaveSimmons]

So even Sun and microsoft have jumped on board.

but both Microsoft and to a lesser extent Sun are enemies of linux, so both benefit from the FUD this case creates and have good reason to fund SCO's efforts. MS probably paid the licensing out of their marketing budget.

MS' tame research partner Gartner even put out a report warning companies to stay away from linux until the case is resolved.

But I agree it would be hard to prove this is a P&D scam since you'd have to prove that SCO's execs don't believe their own claims. Too bad the fifth amendment makes using truth serum on them illegal.