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Federal Prosecutors Launch Probe of Dell
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.
Dell should close up shop and return the money to the shareholders!
dude, you're getting a subpoena
.. you're getting a cell?
Jaysyn
There is a war going on for your mind.
Dell had a tendency to dump computers at the end of every quarter to inflate volume. This went on for over 2 years up until a few months ago. I know a few people who made lots of money by buying these machines, sitting on them for a month and then ebaying them once the prices on Dell home went back to normal. The whole time this was happening I never could figure out how Dell was actually making money on these systems when they were dumping them for 25%-30% less than normal price. I figured this 25% - 30% was their margin but it looks like that might not have been true.
That probe has caused Dell to delay its financial reporting and raised the possibility of needing to restate previous quarters' earnings.
There they go, copying Apple again...
This guy's the limit!
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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Oh, hey, Mr. Jobs!
I didn't know you read slashdot!
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.
I'm in the market for a large wide screen LCD monitor. Who should I buy from?
Sony makes a lovely 23 incher. They also distribute a wonderfull rootkit.
HP has a nice 24 inch LCD. They also have an ethically challenged Board of Directors.
Dell's 24 inch wide screen LCD gets rave reviews. They seem to have some financial reporting issues.
How can I "vote with my dollars" when there is no one to vote for?