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Current DateTime: 04:52:32 30 Nov 2009
LinksList Documentid: 24355697
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Current DateTime: 04:52:32 30 Nov 2009
LinksList Documentid: 33793611
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Current DateTime: 04:52:34 30 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

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  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

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Dell Finds Evidence of Misconduct in Finance Probe
By: Reuters | 30 Mar 2007 | 09:14 AM ET
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Dell [DELL  Loading...      ()   ] said on Thursday an internal audit of its accounting found evidence of misconduct, errors and deficiencies in its financial controls, sending its shares down 6 percent.

The world's second-largest personal computer maker said it is working with its auditors and management to determine whether restatements of past financial statements are needed, and to see if the control deficiencies "constitute a material weakness" in its internal control over financial reporting.

Dell announced last August that it had been investigating its accounting for a year. Later in 2006, the company said the U.S. Securities and Exchange Commission and U.S. federal prosecutors were investigating its past accounting.

Founder Michael Dell in January retook the helm of the company from Kevin Rollins, who left after the investigations were disclosed and a series of lower-than-forecast financial results. The company last year lost the No. 1 PC market share ranking to rival Hewlett-Packard [HPQ  Loading...      ()   ].

Dell said on Thursday the accounting review meant it would not file its annual report with securities regulators by the April 3 due date, or by an extension date of April 18.

The stock, which had closed up 0.2 percent at $23.39 in regular-session trading on Nasdaq, fell almost 7% in after-hours trading.

Copyright 2009 Reuters. Click for restrictions.
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