Thursday, November 06, 2003

I Don't Want To Say . . . . . . I told you so. SCO's lawsuit was just an IPO for the legal profession: WSJ breaks down lawyer's potential winnings from SCO v IBM. This WSJ article says attorney David Boies could see $49.4 million or more from representing SCO in its $3B lawsuit alleging IBM stole trade secrets over Linux software-- even if SCO's case is unsuccessful. Documents SCO recently filed with the Securities and Exchange Commission say the Lindon, Utah, software firm "is in the process of finalizing" a deal with its counsel. Under the agreement, SCO would pay the lawyers 20% of the proceeds of "a sale of SCO during the pendancy of litigation." (...) In 4 p.m. trading on the Nasdaq SmallCap Market Wednesday, SCO was at $17.87, giving the company a market capitalization of $247 million. If SCO sells at that price, the Boies firm would be entitled to $49.4 million -- and probably more with the premium that usually comes in a takeover. Link (subscription required) (via /.) [Boing Boing Blog] File under The Legal Profession. 6:08:17 PM