Posted on Tuesday, October 19th, 2010 at 6:19 pm.
Dell Inc., has received permission from a U.S. judge to settle accounting-fraud claims brought on by the U.S. Securities and Exchange Commission by paying $100 million.
The settlement also said that the founder, Michael Dell, must pay a $4 million fine, but he may remain the chief executive officer. Dell failed to tell investors about payments he received from Intel Corp. to shun products from a rival chip maker.
The additional payments helped Dell reach its financial targets between the years of 2001 and 2006. The company never admitted to the charges, but has said that they are going to work hard improve their accounting efforts.
If you or a loved one are having issues with the accounting for your business, contact the Austin corporate accountants with any financial questions that you may have.