|Dell paying $100 million in SEC deal
Dell paying $100 million to settle SEC charges; Michael Dell paying $4 million
Associated Press | July 22, 2010
WASHINGTON (AP) -- Computer maker Dell Inc. is paying $100 million to settle federal regulators' charges of using fraudulent accounting to meet Wall Street earnings targets.
Under the settlement announced Thursday by the Securities and Exchange Commission, company Chairman and CEO Michael Dell agreed to pay a $4 million civil penalty.
The SEC said the company also failed to disclose to investors large payments it received from Intel Corp. in exchange for not using equipment made by an Intel rival.