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Forbes.com: Boies Joins SCO Shakedown

Nov 19, 2003, 16:00 (18 Talkback[s])
(Other stories by Lisa DiCarlo)

[ Thanks to st1d for this link. ]

"In an arrangement that legal eagle David Boies characterized as 'not usual but not unique,' his law firm today said it would accept $1 million in cash and 400,000 shares in its client SCO, as part of a partnership that aims to extract licensing fees from Linux customers.

"As a result of the stock issuance and cash payout, SCO will take an $8.9 million charge ($7.9 million of which is non-cash) against fourth-quarter earnings. SCO will take an additional non-cash charge of $8.74 million for the conversation related to the issuance of stock. The money and shares are separate from a 20% stake in SCO that Boies' firm would receive in the event of a settlement or sale of the company.

"Boies' firm, Boies, Schiller and Flexner, has been representing SCO in its multibillion-dollar lawsuit against IBM. SCO claims that IBM is violating its patents by illegally distributing its 'System V' Unix technology within Linux..."

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