Dell Settles with SEC for $100 Million
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As part of a settlement agreement with the U.S. Securities and Exchange Commission (SEC), Dell will pay a civil monetary penalty of $100 million, the PC maker announced.
"We are pleased to have resolved this matter," company chairman Michael Dell said in a statement. "We are committed to maintaining clear and accurate reporting of our periodic results, supporting our customers, and executing our growth strategy."
Both the company and Michael Dell entered into the settlement without admitting or denying any wrong doing. In addition, the company has agreed to a permanent injunction against future violations, and is required to retain an independent consultant and enhance its disclosure processes, practices, and controls, Dell said.
Full announcement here.
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josephnasu
July 26, 2010 at 9:19am
I ask all the people supporting Dell to WAKE UP! I hope you understand that Intel has used the Celeron chip as a give away (i.e. FREE) to computer companies for years to keep them purchasing OVER PRICED CPU's from Intel! Whether it be Dell, Toshiba, Sony, NEC, etc. ALL of the major players in the computer market has been BOUGHT by Intel and we are the LOSERS! For years there has been no competition in the CPU market because AMD has not been allowed to enter it. Even with better priced and faster CPU's, AMD was shut out because Intel was giving away the Celeron "crap" chip. There were kickbacks to these companies for ONLY purchasing Intel... Intel is a dirty company and those supporting Intel are losers... as we all are for letting this continue!
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