On September 21st, Canonical has publish in a security notice details about a new Linux kernel update for its Ubuntu 12.04 LTS (Precise Pangolin) operating system.
As usual, you can click on each one to see how it affects your system, or go here for in-depth descriptions, as it affects other Linux operating systems as well.
The security flaw can be fixed if you upgrade your system(s) to the linux-image-3.2.0-31 (3.2.0-31.50) package(s). To apply the update, run the Update Manager application.
Don't forget to reboot your computer after the upgrade, and remember that you will have to manually recompile installed third party kernel modules.