Intel Corp (INTC)

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Guess I'll do it...

Dell to Pay $100M to Settle SEC Accounting Probe

http://www.eweek.com/c/a/Desktops-and-Notebooks/Dell-to-Pay-100-Million-to-Settle-SEC-Accounting-Probe-621341/

In charges filed in U.S. District Court July 22, the SEC claimed that from 2001 to 2006, Dell violated federal securities laws and SEC rules and anti-fraud regulations in its accounting practices. In particular, according to the SEC, Dell executives failed to let investors know about large payments from Intel that had been made to convince Dell not to use processors from Advanced Micro Devices in its systems.

"It was these payments rather than the company's management and operations that allowed Dell to meet its earnings targets," the SEC said in a statement July 22. "After Intel cut these payments, Dell again misled investors by not disclosing the true reason behind the company's decreased profitability."

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