Red Hat News Desk
Class Action Suit to Cost Red Hat $8.8m
It means to take this one-time charge in the quarter ended November 30

By: Maureen O'Gara
Dec. 21, 2009 01:45 PM

Economics for Investors on Ulitzer

Red Hat says it's reached an agreement in principle to settle a class action suit pending in the Eastern District of North Carolina that was brought on behalf of shareholders in connection with the restatement of financial results announced in July of 2004.

It's reserving $8.8 million and means to take this one-time charge in the quarter ended November 30 when it announces its results on December 22.

Published Dec. 21, 2009— Reads 2,909
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About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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