Found the same problem in the upstream bug tracker, you can take a look here:
http://developer.pidgin.im/ticket/5806
** Changed in: pidgin (Ubuntu)
Status: Confirmed => Triaged
** Also affects: gaim via
http://developer.pidgin.im/ticket/5806
Importance: Unknown
Status: Unknown
** Summary changed:
- Pidgin eats up 100% cpu
+ hangs due to repeated gettimeofday calls
--
hangs due to repeated gettimeofday calls
https://bugs.launchpad.net/bugs/223443
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