[Am-info] Cats and dogs and Mormons and Canadian banks and Gates and Ballmer -- priceless!

[Gene Gaines]

Hey, could it be that some big lawyers are in danger of both
looking like fools and perhaps catching some social diseases
from the good Utah mormons they have been sleeping with!


BayStar seeks to retrieve investment in SCO
Last modified: April 16, 2004, 12:29 PM PDT
By Stephen Shankland 
Staff Writer, CNET News.com

               
BayStar Capital is seeking to get back the $20 million it
invested in the SCO Group, raising issues for SCO's expensive
and controversial legal campaign that argues Linux infringes its
Unix copyrights.

BayStar sent SCO a letter Thursday "requesting that SCO
immediately redeem BayStar's 20,000 shares of SCO's Series A-1
Convertible Preferred Stock," SCO said in a statement Friday.
SCO disputes the basis of BayStar's request, that SCO breached
terms of a Feb. 5, 2004, exchange agreement by which SCO
exchanged one type of preferred stock BayStar owned for another.

The move represents a serious threat to a $50 million investment
that SCO described as a "war chest" it would use against Linux.
The Royal Bank of Canada, which chipped in $30 million, could
follow suit.

RBC is keeping its options open. "We haven't requested a
redemption. We're reviewing the situation and will arrive at a
decision shortly," said spokesman Paul Wilson.

The new dispute adds another front to SCO's battles with the
open-source community and the companies it has sued, said
RedMonk analyst Stephen O'Grady. "I don't think this is going to
make SCO investors feel real good," he said.

Indeed, the news sent SCO's stock down $1.29, or 13 percent, to
a closing price of $8.37.

BayStar said SCO violated provisions governing disclosure of
information about SCO and publicity of the exchange agreement.

However, "SCO does not believe it has breached any of the
referenced provisions," SCO said, and therefore, "SCO does not
believe it is obligated to redeem BayStar's shares."

BayStar invested $20 million and the Royal Bank of Canada $30
million in an October transaction that has been instrumental to
SCO's legal fight against Linux.

 ...

See http://news.com.com/2100-7344-5193661.html?part=dht&tag=ntop
for entire article.

[and it goes on, what a disgusting mess ... what springs to
my little mind is ... no honor among thieves ... etc.  But of
course, that could not possibly apply to any undertaking
involving Gates and Ballmer.    -Gene Gaines]