New SCO 8K Documents and Minutes from Friday

Tuesday, December 09 2003 @ 03:00 PM EST

Contributed by: PJ

There are new documents filed with the SEC by SCO, which you can get from EdgarOnline. The SEC doesn't have it up yet, last I checked, or get the highlights here. On that page, there is a link to SCO's SEC filings, and if you click on the full report for the most recent filing, you get a choice to sign up free in order to read it. Or just wait until the SEC gets it up on the public page. I will be writing about it in detail later today, but there is no reason for you to wait for that if you want to get started. The filing includes the following exhibits, which are simply eye-opening and answer the question as to why Boies was not at the hearing Friday:

* Exhibit 99.1 - Engagement Agreement dated February 26, 2003 among SCO, Boies Schiller & Flexner LLP, Angelo, Barry & Boldt, P.A. and Berger Singerman

* Exhibit 99.2 - Letter Amending Engagement Agreement dated November 17, 2003 from Darl C. McBride, President and Chief Executive Officer of SCO, to David Boies of Boies, Schiller & Flexner LLP

* Exhibit 99.3 - Letter Agreement dated December 8, 2003 among SCO, BayStar Capital II, L.P., Royal Bank of Canada and acknowledged by Boies, Schiller & Flexner LLP

The biggest surprise, to me, is that the arrangement with Boies was never a straight contingency arrangement, as I thought. It is set up that Boies gets paid no matter what. BayStar has recently hemmed Boies in just a bit, as you will see. And Darl's brother was in on the arrangment from day one. More later.

Meanwhile, the brief minutes from Friday's court hearing are also available here or just read it on Pacer. The meat of it is this:

"Court GRANTS motion. Plaintiff is to provide responses/affidavits within 30 days of the entry of this order. All other discovery is to be postponed until the order has been complied with. An order reflecting this ruling is to be prepared by counsel for defendant. A motion hearing is scheduled for 1/23/04 at 10:00 a.m. Court is adjourned. granting [68-1] motion to compel discovery, Motion hearing set for 10:00 1/23/04 for [66-1] motion to Compel Discovery, set for 10:00 1/23/04 for [73-1] motion strike the 5th, 15th, and 19th affirmative defenses asserted by the SCO Grp in its Answers to IBM' Amended Counterclaims, set for 10:00 1/23/04 for [83-1] motion to extend time for pla to respond to dft IBM's third set of interrogatories and third request for production of documents."

This clarifies that the 30-day clock starts ticking not from Friday but from when the order is presented to the judge by IBM, which they are supposed to do tomorrow, signed by her, and entered. That's what I expected, as you'll recall, but now we know for sure.