Dell's CEO in settlement talks with US regulators

Dell also revises results for the first quarter of 2011

Dell's CEO is talking to U.S. financial regulators about a settlement related to allegations over his company's business dealings with Intel, the computer maker said on Thursday.

The allegations concern "negligence-based fraud provisions of the federal securities laws, as well as other non-fraud based provisions," Dell said in a statement.

Any settlement would be made without Chairman and CEO Michael Dell admitting to or denying the allegations and would not prevent him from continuing as "an officer and director of a public company," Dell said.

The U.S. Securities and Exchange Commission began investigating Dell 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 also said Thursday that it had set aside a US$100 million reserve to cover any potential settlement between the company and the SEC. As a result, it has revised the first-quarter financial results that it reported last month.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags intelDell

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

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Ada Chan

Dynabook Portégé X30L-G

I highly recommend the Dynabook Portégé® X30L-G notebook for everyday business use, it is a benchmark setting notebook of its generation in the lightweight category.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?