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Federal Prosecutors Launch Probe of Dell

Posted by ryuzaki0 on from the continuation-really dept.

An anonymous reader writes, "The U.S. Attorney for the Southern District of New York has launched an investigation into Dell's finances and has subpoenaed company documents going back to 2002. Dell execs had previously said they didn't think any of this would add up to any material impact, but that seems to be a possibility now." More accurately, this is a continuation of an ongoing "informal" SEC probe. That probe has caused Dell to delay its financial reporting and raised the possibility of needing to restate previous quarters' earnings.

3 of 94 comments (clear)

  1. Re:I suppose I'm alone in this. by HUADPE · · Score: 3, Insightful
    RTFH

    Federal Prosecutors Launch Probe of Dell.

    Eliot Spitzer is the New York State Attorney General. He is looking for a new job though...Governor of New York to be specific.

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  2. This could end up benefitting Dell.... by NDPTAL85 · · Score: 2, Insightful

    ...in the long run. With the share buybacks suspended because of the investigations when that suspension is lifted the negatie news might have caused the share prices to have decreased making them cheaper for Dell to buy back and thus increasing the profit they can make when they sell them again years from now.

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  3. Press Coverage Bias Detector by wmduncan · · Score: 5, Insightful

    This should pose an interesting comparison of how Dell is treated by the press vis a vis Apple.

    To be "fair and balanced", the next articles should say that "beleagured" Dell faces delisting
    by the Nasdaq and that Michael Dell faces SEC charges.