Dell to pay more

Dell will pay $ 100 million fine for cheating investors

In brief: For a long time Dell could meet Wall Street forecasts, but violating accounting rules.'s Financial results, which are publicly traded companies disclose the investment community, must reflect the reality - added in chief SEC Christopher Conte.

SEC announced that the corporation was fined Dell Inc, its chief executive Michael Dell and two former executives for the introduction of misleading investors.

According to the report SEC, in 2002-2006 Dell intentionally concealed from investors the fact of receiving large payments from Intel for refusing to use processors main competitor – AMD. It transfers from Intel allow Dell to show the results corresponding to the expectations of analysts, according to SEC. At its peak in 2007, Intel paid amounted to 76% of operating profits Dell.
Once Intel has stopped paying Dell, the company does not disclose the reasons falling profits. Within the settlement agreement regulator Dell to pay $ 100 million, CEO, Michael Dell and his predecessor, Kevin Rollins – to $ 4 million, the former findirector James Schneider – $ 3 million. “Michael Dell and other Dell executives have repeatedly violated the standards of disclosure of public companies for many years and is now responsible for it,” – said the head of SEC enforcement Huzami Robert, quoted in the message department.

Anrey Torbinski
2010-07-24 02:50, Economics.

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