Restatement has investors seeing red.

• Position: Triangle - Red Hat Inc. - Brief Article

Raleigh-based Red Hat, which sells and services the Linux computer-operating system, faces at least 15 class-action lawsuits after announcing it will restate earnings from the past three years. Milberg Weiss, the New York law firm that recently sued Winston-Salem-based Krispy Kreme Doughnuts, and other plaintiffs accuse the software company of defrauding investors by reporting misleading information. Red Hat says the change was a procedural one made on the advice of its auditor, Pricewaterhouse-Coopers. The company expects net income for the fiscal year...