Comment 5 for bug 938669

The fix around this issue is a poor solution. We were just hit hard with this very issue running MySQL server on Ubuntu 12.04 LTS. We increased the size of the server and the open files limit and Ubuntu would not honor it. It took many many man hours to stuble onto a post describing the problem and the solution.
Details can be found here: http://askubuntu.com/questions/288471/mysql-cant-open-files-after-updating-server-errno-24