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Investor dumps SCO


Investor dumps SCO

By Andrew Orlowski in San Francisco Published Friday 16th April 2004 21:31 GMT

The major speculator backing The SCO Group's legal jihad against Linux wants its money back. Marin County, California-based equity fund BayStar Capital invested $50 million in SCO back in October, confident that the Utah firm had a strong legal case. Now Baystar says SCO has breached the agreement and wants to redeem its investment, which takes the form of 20,000 shares of SCO's Series A Convertible Preferred Stock. SCO doesn't agree, and wants to hang on to the cash. The terms were amended in February.