BusinessCompany NewsAccounts probe sees Dell delay results

Accounts probe sees Dell delay results

Share repurchase plan also suspended

An accounting probe of computer maker Dell by the Securities and Exchange
Commission has seen the company delay filing its second-quarter results and
suspend a share repurchase plan.

As well as the SEC probe, the company has also launched its own internal
inquiry, while US Attorney for the Southern District of New York has subpoenaed
financial documents.

The investigations centre on Dell’s accounts dating back to 2002 and it is
understood that Dell may have misstated some of its results.

‘We are fully cooperating with the investigations and working to resolve any
and all issues raised in connection with those investigations as quickly as
possible, and we will take any appropriate remedial or corrective actions to
address any problems,’ said chairman Michael Dell.

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