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SRO: LinuxCare Pulls IPO Plug

“Linuxcare lost what may have been a winning lottery ticket when
CEO Fernand Sarrat resigned and the company was forced to pull the
plug on its IPO last week.”

“Remaining LinuxCare executives are trying to pick up the
pieces. “We have two separate incidents,” says LinuxCare CFO
Christian Paul. “The first was the CEO resigning, and the second
was the condition of the Nasdaq. There is no doubt that even if
Fernand were still here, we’d still be postponing the IPO.”

LinuxCare’s board wants to “get back on track” with the IPO
as soon as market conditions stabilize
, says Patricia Lambs,
one of four members in LinuxCare’s temporary Office of the
CEO.”

Complete
Story