Dell: SEC Targeting Former Employees in Accounting Probe
A multi-year SEC probe into accounting practices at Dell (DELL) is coming to a head.
The company disclosed in an SEC filing yesterday that several former employees have received “Wells Notices,” indicating that the commission’s staff has recommended civil or administrative action be taken against them.
The investigation was first disclosed in August 2005, and involves accounting matters that date back to 2001. Dell said it continues to co-operate with the SEC, and that it has held preliminary discussions about a settlement, but that no agreement has been reached so far. Dell said that any resolution would likely include monetary penalties and other relief.
