Dell Inc. (NASDAQ:DELL) had proposed a settlement with the SEC for fraudulent accounting practices this past July. Before the SEC approved of the settlement, a judge had to approve the proposal. A U.S. judge approved of the settlement and now Dell has to pay $100 million in fines.
Dell founder Michael Dell will be paying $4 million of the fine out of his own wealth. The fraudulent accounting was due to a deal that Dell made with Intel. Intel paid Dell to use them exclusively. AMD processors would not be used in Dell computers as a result of that deal.
Dell Paying $100 Million For Not Disclosing Exclusivity With Intel
Categories: Dell Inc., Michael Dell.