Thursday, July 22, 2010

Dell Settles With SEC For $100M

Round Rock-based Dell announced Thursday afternoon that it has agreed to settle with the Securities and Exchange Commission, and will pay $100M to resolve alleged omissions prior to its Fiscal 2008. Dell said that the SEC has agreed to settlements with both the company and Michael Dell, the company’s chairman and CEO, and that the company and Mr. Dell will settle without admitting or denying the allegations in the SEC's complaint. The SEC had earlier been investigating violations of accounting and disclosure rules between 2001 to 2006.