I can't start the game. It starts running Vendetta Update utility, but it stops with the following error:

Connecting to update1.vendetta-online.com:21024...
Latest version: vendetta-1.8.242
Patching version vendetta-1.8.203 to vendetta-1.8.242...
can't open update.rlb! aborting!

Update failed. Error code -99

PC:
Version 12.04 (precise) de 32-bit
Núcleo Linux 3.2.0-26-generic-pae
GNOME 3.4.1

Memory: 7,9 GiB
Intel® Core™ i3-2100 CPU @ 3.10GHz × 4

Any idea how to fix it????

My guess is the game doesn't have permission to modify itself and you need to reinstall it as a user insetead of as root or sudo. VO doesn't work right installed as root.

From vendetta directory, what are the permissions?

ls -l . update.rlb
pwd

the "." in the LS above is intentional