Menu
Dell to pay $100 million to settle SEC case

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.


Follow Us

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 business issueslegalDellMIchael Dell

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments