The Canopy Group is an investment firm founded by Ray Noorda, headquartered in Lindon, Utah. It serves as the parent company of various technology companies. One of its most well-known members was the SCO Group. Canopy divested itself of SCO in 2005 with the settlement of the Yarro case.
On December 17, 2004, Noorda and other shareholders ousted CEO Ralph Yarro III, CFO Darcy Mott, and corporate counsel Brent Christensen, accusing them of having ...
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The Canopy Group is an investment firm founded by Ray Noorda, headquartered in Lindon, Utah. It serves as the parent company of various technology companies. One of its most well-known members was the SCO Group. Canopy divested itself of SCO in 2005 with the settlement of the Yarro case.
On December 17, 2004, Noorda and other shareholders ousted CEO Ralph Yarro III, CFO Darcy Mott, and corporate counsel Brent Christensen, accusing them of having defrauded the company of many millions of dollars. Yarro and the other executives sued for wrongful termination and Canopy countersued the three men. On March 8, 2005, the day before initial hearings were scheduled to begin, both parties negotiated a settlement out of court, ending the litigation. In a joint press release by the parties, Canopy agreed to relinquish ownership of all its shares in the SCO Group, transferring them to Yarro along with an undisclosed sum of money. In exchange, Canopy would regain all its shares controlled by SCO,...
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