Dell to pay $100 million to settle SEC case

Michael Dell also has reached a settlement agreement in the investigation

Dell will pay US$100 million to resolve an investigation by the U.S. Securities and Exchange Commission into the company's past accounting and financial reporting practices, it said Thursday.

The settlement also resolves the SEC's investigation into Dell's disclosures and alleged omissions regarding certain aspects of its commercial relationship with Intel, Dell said in a statement.

The SEC has also settled with Dell CEO Michael Dell, who will pay a $4 million civil penalty related to his alleged failure to provide adequate disclosures regarding the company's commercial relationship with Intel. The settlement does not restrict his role as an officer or director of the company.

The SEC began investigating the company in 2005, partly over how it recognized revenue for certain financial periods. Dell also conducted its own investigation, and as a result restated some of its financial results reported prior to 2007.

Dell in June said it had set aside a $100 million reserve to cover any potential settlement between the company and the SEC.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesDellMIchael Delllegal

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Agam Shah

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?