Red Hat to pay $8.8M to settle class action suit related to restatement of financial results
By APTuesday, December 15, 2009
Red Hat to pay $8.8M to settle class action suit
RALEIGH, N.C. — Software company Red Hat Inc. will pay $8.8 million to settle a class action lawsuit related to the restatement of financial results from July 2004.
Red Hat said Tuesday that it reached the proposed settlement agreement and recorded a one-time charge of $8.8 million for the quarter that ended Nov. 30. The agreement still needs court approval.
The suit had been pending in a U.S. District Court in North Carolina.
Tags: Computing And Information Technology, North America, North Carolina, Raleigh, Settlement, Software, United States
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