It was reported  that perf would look for configuration files in /etc/perfconfig, ~/.perfconfig, and ./config. If ./config is not a perf configuration file, perf could fail or possibly do unexpected things. If a privileged user was tricked into running perf in a directory containing a malicious ./config file, it could possibly lead to the execution of arbitrary commands.
A patch is available .
Created kernel tracking bugs for this issue
Affects: fedora-all [bug 729809]
This issue did not affect Red Hat Enterprise Linux 4 and 5 as they did not include support for perf. This did not affect Red Hat Enterprise MRG as it uses the perf package from Red Hat Enterprise Linux 6. This has been addressed in Red Hat Enterprise Linux 6 via https://rhn.redhat.com/errata/RHSA-2011-1465.html.
Upstream commit: http://git.kernel.org/linus/aba8d056078e47350d85b06a9cabd5afcc4b72ea
This issue has been addressed in following products:
Red Hat Enterprise Linux 6
Via RHSA-2011:1465 https://rhn.redhat.com/errata/RHSA-2011-1465.html