Friday, June 11, 2010
Dell Sets Aside $100M In Potential SEC Settlement
Round Rock-based Dell said Thursday afternoon that the firm has set aside $100M in liabilities in the first quarter, as a reserve for a potential settlement by the company with the SEC. Dell said the settlement would cover a civil injunctive action against the company for alleged violation of certain federal securities laws, negligence-based fraud charges, as well as other charges related to its relationship with Intel. Dell has been under investigation by the SEC since 2005 over revenue recognition issues. Dell had undertaken its own investigation back in 2007, which resulted in restatements to its financial reports.