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Reuters: SCO Shares Slump After IBM Lawsuit Deadline Passes

Jun 16, 2003, 18:42 (8 Talkback[s])

"Shares in SCO Group Inc. fell as much as 10 percent on Monday after International Business Machines Corp. did not respond to SCO's claims that the world's largest computer company illegally used parts of its Unix software.

"IBM's lack of response was seen as a sign that SCO would [have] difficulty extracting a settlement. Investors had bid up SCO's shares in the hope that a financial settlement with IBM would help boost SCO's bottom line, which had been in the red before it started an initiative to boost licensing fees from its Unix rights.

"SCO had said last week that it was prepared to expand the scope of its lawsuit against IBM..."

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