Dell settlement approved
Oct 14, 2010, 20:03 (0 Talkback[s])
(Other stories by Marcy Gordon)
"A federal judge on Wednesday approved Dell Inc.'s $100 million
settlement with the government of civil fraud charges.
"Approval of the settlement by U.S. District Judge Richard Leon
came after company Chairman and CEO Michael Dell assured Leon in a
hearing that the computer maker will carry through the reforms it
"The Securities and Exchange Commission had said that Dell
improperly used payments from Intel to pump up its profits to meet
Wall Street targets over five years.
"Dell himself agreed to pay a $4 million fine in the settlement.
The company agreed to tighten its procedures for disclosing
financial information to shareholders."