Dell Creates $100M Reserve For SEC Settlement

Law360, New York (June 10, 2010, 7:22 PM EDT) -- Dell Inc. announced Thursday that it has revised its previously announced first-quarter results to reflect having to establish a $100 million reserve for potential settlements involving an investigation by the U.S. Securities and Exchange Commission.

The $100 million charge will reduce the company's net income by 5 cents per share for the first quarter of fiscal 2011, the company said.

A potential settlement would involve a civil injunctive action against the company for alleged violations of federal securities laws relating to accounting and financial reporting matters...
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