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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?"

8 of 475 comments (clear)

  1. ... In Japan by boy_afraid · · Score: 0, Troll

    Red Hat announced that they would be re-stating their revenues for the last 3 years ... in Japan .

    1. Re:... In Japan by achurch · · Score: 0, Troll

      Red Hat announced that they would be re-stating their revenues for the last 3 years ... in Japanese .

    2. Re:... In Japan by YOU+LIKEWISE+FAIL+IT · · Score: 0, Troll

      I haven't laughed so hard at a slashdot post in some time. Hats off.

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  2. "ambulance chaser" indeed by Anonymous Coward · · Score: 0, Troll

    I patently reject your characterization of me as an "ambulance chaser." I am one of the many investors who lost significant amounts of money in redhat stock, and this suit represents my best chance to bring to light the pervasive abuses that redhat has committed to make their financial picture look brighter than it is.

    If you want to report both sides, fine, but I resent the one-sidedness of your submission.

    Jason

  3. Ambulance chasers? by Anonymous+Writer · · Score: 0, Troll

    Could a certain Redmond-based company behind the SCO lawsuits be behind this as well, just to screw with Linux any way they can?

  4. Ambulance Chasers! by technoCon · · Score: 0, Troll

    Heaven forfend that you should dis the Democrat vice-presidential candidate's profession.

    (Have you ever noticed that anything to the right of Mao Tse Tung gets moderated "troll" on Slashdot?)

  5. Edwards for VP! by lseltzer · · Score: 0, Troll

    Look for this sort of lawsuit crap to rule American life even more when the lawyers/Democrats take over

  6. Re:Is posting of contract revenues unusual? by Kombat · · Score: 0, Troll

    If there's a class-action lawsuit, I will take the proceeds and dump it right back to Redhat, in the form of subscriptions or straight donations.

    I'm going to get modded into oblivion for this, but it has to be said.

    The double-standards here on Slashdot are mind-boggling. When SCO infringes on the GPL, everyone jumps up, guns blazing, and spews venom all over their litigating asses, and we scream about protecting the legitimacy of the GPL and Linux's copyrights. But when the RIAA goes after P2P networks to protect their copyrights, they're evil. We scream how they should leave the networks alone, and instead go after those who are actually causing the problems. So they did. And we screamed at them still!

    "How could they sue a bunch of kids?" we cried. Well, perhaps because that's who's downloading all the music?

    A bug is found in Mozilla. "See, the system works", they say. A bug is found in IE. "Proof positive that Microsoft is crap!" they scream.

    Enron, Worldcom, Nortel, and RedHat all admit that they were lying to investors, and restate their earnings downwards. "Greedy, heartless, bloodsucking corporate bastards!", we scream.

    "... except RedHat. I'll donate money to them, even though they lied to try and manipulate earnings numbers. Because we like RedHat."

    Boggles my mind.

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