Nasdaq poised to delist SCO Group

Nasdaq will remove SCO Group from its listings on 27 September

The Nasdaq stock exchange has told SCO Group that it will remove the company from its listings on 27 September, following its filing for bankruptcy protection.

The move means that trading in SCO shares will no longer be allowed after that time.

"As a result of [SCO]'s having filed for Chapter 11 protection ... the Nasdaq has determined that [SCO]'s securities will be delisted from the Nasdaq Stock Market and that trading in [SCO]'s common stock will be suspended," SCO said in an official statement.

SCO said that it would exercise its option to review the decision with Nasdaq before the delisting takes place, but that it could not guarantee a favourable outcome.

"The company intends to request a hearing to review the determination," the SCO statement said. "There can be no assurance that the panel will grant the company's request for continued listing."

The Nasdaq tried to delist SCO in April this year when the firm's stock fell below $1 for more than 30 days, but later abandoned the delisting procedure.

Shares in SCO fell dramatically following a ruling by a US federal judge that the company does not own the copyright to the Unix system.