SCO files for Chapter 11

As it fades from the public eye after its binge of Linux-related lawsuits, SCO has filed for Chapter 11 bankruptcy protection. SCO says the move will allow it to re-organize, and it intends to continue normal business operations as the bankruptcy proceedings go on. Darl McBride, SCO's CEO, also has the following to say to SCO customers:

"We want to assure our customers and partners that they can continue to rely on SCO products, support and services for their business critical operations," said Darl McBride, President and CEO, The SCO Group. "Chapter 11 reorganization provides the Company with an opportunity to protect its assets during this time while focusing on building our future plans."

The move doesn't come out of the blue. Back in April, SCO received a delisting notice from NASDAQ because the price of its stock had closed under the $1 mark for more than 30 consecutive business days.

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