Dell Nears Accounting Probe Settlement

After suffering through a five-year accounting probe, Dell (DELL) is finally nearing a settlement with the U.S. Securities and Exchange Commission. The company said this morning that it had proposed to the SEC a settlement that would resolve allegations that it manipulated accounts in order to meet business performance targets and broke “negligence-based fraud provisions” in its dealings with Intel. Under the terms, Dell would be subject to a fine, and Michael Dell would be allowed to remain as CEO. The deal, of course, is subject to approval of both the SEC commissioners and a U.S. District Court.