$100 million settles Dell accounting-fraud charges

Jul 25, 2010, 11:05 (8 Talkback[s])
(Other stories by Declan McCullagh)

"Dell said on Thursday that it will pay $100 million to settle charges that it engaged in fraudulent accounting practices to appear to be meeting Wall Street earnings targets.

"The U.S. Securities and Exchange Commission probe into the company and chairman Michael Dell, which has been previously disclosed, alleged that Dell "failed to disclose" payments from Intel to use its processors and "materially misrepresented" the reasons for its improving profitability."

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