Red Hat hit with class-action lawsuits (Triangle Business Journal) [LWN.net]

Yesterday, Red Hat said it would make minor tweaks to the way it accounts for subscription revenue. Today, the Triangle Business Journal reports, at least two law firms have filed class-action shareholder lawsuits against the company. "The precipitous drop didn't escape the attention of Atlanta-based Chitwood & Harley LLP and New York-based Goodkind Labaton Rudoff & Sucharow LLP, which announced in separate press releases Wednesday that they had filed class-action suits against Red Hat and some of its executives. According to the press releases, the law firms accuse Red Hat of defrauding its investors by reporting false and misleading financial information."

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