Dell Inks $21M Deal To End Suit Over 1-Day Stock Drop

By Mike LaSusa (September 16, 2019, 11:05 PM EDT) -- Dell Inc. has agreed to pay $21 million to resolve a shareholder suit over the events leading up to a one-day, 17% drop in the computer company's stock price in 2012 after it reported quarterly cash flow that was nearly a half-billion dollars below expectations.

According to filings made in Texas federal court Monday, Dell will not admit any wrongdoing but will finance a fund of $21 million to provide an estimated average of $0.17 per share to anyone who bought Dell stock between Feb. 22 and May 22, 2012, and was harmed by the alleged misconduct.

"Lead plaintiff and its...

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