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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 promised.

"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."

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