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Red Hat Vs. The Lawyers

Posted by simoniker on from the bad-dudes-vs.-dragon-ninja dept.

ajs writes "On July 13, Red Hat announced that they would be re-stating their revenues for the last 3 years. This sent a shock-wave through their stock price, but early analysis seems to indicate that it's not that big a deal (the end-result is the same for a given contract, but it will be counted toward a different month). But then the really bad news hit. [Opportunistic lawyers] are taking this opportunity to punish Red Hat for reporting the change and the resulting drop in price. Red Hat is doing well, but can they weather major class action law suits without harming the business? How have other technology companies dealt with this sort of suit?"

12 of 475 comments (clear)

  1. Lets leave... by Anonymous Coward · · Score: -1, Flamebait

    the election out of the slashdot mainpage. Quit hitting trial lawyer. Ugh. Goddman Republicans

  2. Re:What?! by Nemo+Black · · Score: 0, Flamebait

    Has anyone considered the possibility that Microsquash may be backing some of these lawyers?

  3. It will only get worse... by Anonymous Coward · · Score: -1, Flamebait
    When you put an ambulance chaser in the White House. When you vote this fall, understand that putting a trial lawyer in the White House will make these sort of suits even more abundant because the trial lawyer lobbyists will have their foot not in the door but all the way into the house. So you can either put in the Harvard MBA or the two lawyers -- one that specializes in attacking businesses.

    I am posting anonymously because of my proximity to this issue.

  4. I HATE REPUBLICANS AND I HATE DEMOCRATS by Anonymous Coward · · Score: -1, Flamebait

    all politicians are assholes. corporate scum.

  5. Re:What?! by Anonymous Coward · · Score: -1, Flamebait

    Have you considered the possibility that the only way Free Software can appear profitable is through fraudulent means?

  6. Re:I'm most definitely not a lawyer... by oostevo · · Score: 0, Flamebait

    "But it appears that the crux of this case is that Red Hat must prove that the mis-stated earnings were the result of an honest mistake, not intentional fudging (*cough* Enron */cough*)." But that's not it ... Because Redhat apparently had false information for investors for three years, and they're just now releasing that information, the current investors who saw their (unrealistically valued) stock price plummett got screwed, and they've got a legitimate grievance. (As far as I can tell. Though it should go without saying ... IANAL)

    --
    In soviet russia, You ask not what country do for you, but what you do for country!
    Oh wait...
  7. CRASH AND BURN ASS HAT! ! by Anonymous Coward · · Score: -1, Flamebait

    I fucking hate you linux zealots and your second rate operating system. Suck between UNIX and BSD on the server and Windows and OSX on the desktop your crappy second rate OS is left in a nich market becasue all it is, is a cheap clone.

  8. Ambulance chasers? by gelfling · · Score: -1, Flamebait

    You fucking idiot.

    Better we should let companies LIE because as you know the stockmarket done such a wonderful job with credibility, ethics and flat out performance for the last 4 years. /. is officially a shitheap.

  9. SELL SELL SELL by Anonymous Coward · · Score: -1, Flamebait
    They sell a free product, they are destined for failure. They are over-valued and lied to make the numbers more impressive.

    They will be junk stock in no time. JUMP SHIP NOW.

  10. bwahahaha by Anonymous Coward · · Score: -1, Flamebait

    byebye redhat. no love lost tho ur distr0 sux just like ur accounting practic3s. shitty ass gnome using fuckheads.

    fact: netcraft confirms: redhat is dead. maybe if they used a real desktop env like kde then the fuckheads wouldnt be getting squashed like the little ass tiny midget gnomes. fuck you redhat.

  11. Re:What?! by nwbvt · · Score: 0, Flamebait
    What exactly are you saying? That Red Hat can lie about earnings and hurt its investors because... they make a popular Linux distribution?

    So if Enron had invested in OSS, would you be defending Kenneth Lay and complaining about how he is being persecuted by the SEC?

    --
    Mathematics is made of 50 percent formulas, 50 percent proofs, and 50 percent imagination.
  12. Re:Hey by Anonymous Coward · · Score: -1, Flamebait

    Since you post freaking constantly, it has become more than a little irritating to see your advert all the time IN BIG FUCKING CAPITAL LETTERS. It's standard netiquette that you don't yell at people like that all the time. You are clearly abusing what a sig is meant for. Further, not everyone has mod points all the time. If I did, I would happily mod you down as overrated, starting with the four you got for the parent of this post. While you do occasionally post something remotely interesting, you are, fundamentally, a classless tool who could vanish into thin air and it would be a relief.