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Legal: BayStar Threatens to Sue SCO
Posted Jul 25, 2004 - 09:22 AM
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From the what goes around dept: "Just when the Unix community thought that the fractious BayStar-SCO dispute was history, the investment house proved everyone wrong. The company now says it will sue SCO and continue the pair's troubled financial relationship.

...According to Justin Meese, BayStar spokesperson, the arranged settlement had not closed due to an 'unresolved dispute between the parties,' despite a prior announcement by The SCO Group to the contrary.

Further, Meese said that the Larkspur, Calif.-based private equity firm 'intends to file an action requesting a declaratory judgment with respect to its rights under the Stock Repurchase Agreement. Until a final determination is made by the court, BayStar maintains its position as a Series A-1 Preferred stockholder of SCO.'

In other words, SCO can say what its wants, but BayStar doesn't feel that SCO has lived up to its end of the bargain and they'll be suing SCO as a result."
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