Related News
Dell agrees to change financial practices
Source: Agencies |
September 30, 2009, Wednesday
|
Print Edition
Print Edition
DELL Inc is to beef up accounting and corporate governance rules as part of a settlement tied to an investigation into its past financial practices.
Dell, the world's second-largest PC maker behind Hewlett-Packard Co, will also pay US$1.75 million in legal fees, according to a settlement filed with the United States Securities and Exchange Commission.
After an SEC investigation into Dell's accounting was made public in 2006, several shareholder groups filed lawsuits saying Dell misrepresented its financial health while officers and board members sold stock at inflated prices.
Dell restated results for 2003 through 2007 after an internal audit found it overstated sales by US$359 million and profit by US$92 million.
Dell has agreed to make sure at least 60 percent of its board members are from outside the company and said it would pay for additional training for board members.
Dell, the world's second-largest PC maker behind Hewlett-Packard Co, will also pay US$1.75 million in legal fees, according to a settlement filed with the United States Securities and Exchange Commission.
After an SEC investigation into Dell's accounting was made public in 2006, several shareholder groups filed lawsuits saying Dell misrepresented its financial health while officers and board members sold stock at inflated prices.
Dell restated results for 2003 through 2007 after an internal audit found it overstated sales by US$359 million and profit by US$92 million.
Dell has agreed to make sure at least 60 percent of its board members are from outside the company and said it would pay for additional training for board members.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
