$100 million settles Dell accounting-fraud charges
Jul 25, 2010, 11:05 (8 Talkback[s])
(Other stories by Declan McCullagh)
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"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."