Dell says gets non-compliance letter from Nasdaq
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Dell  said on Friday it received a letter from Nasdaq saying the computer maker was not in compliance with listing requirements because it was late in filing its fiscal third-quarter report.
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The law firm of Milberg Weiss announced today that it is investigating possible illegal conduct relating to 401(k) retirement plans at computer maker Dell Inc. Specifically, Milberg Weiss is investigating whether fiduciaries of the Dell Inc.
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Computer maker Dell Inc.  filed with the U.S. Securities and Exchange Commission on Thursday to delay its third-quarter financial report, citing ongoing regulatory investigations into its accounting and financial reporting matters.
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Dell (Nasdaq: DELL) is giving its corporate customers a break, announcing price cuts on hardware ranging from enterprise servers and workstations, to desktops and notebooks for large business and institutional customers.
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By Bloomberg, AP and Staff Reports  Dell Inc., the world's largest personal-computer maker, may be delisted from the Nasdaq Stock Market because of a delay in filing its quarterly report.   Dell plans to request a hearing to respond to a Sept.
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(InfoWorld) - Dell Inc. has delayed filing its quarterly earnings report with the U.S. Securities and Exchange Commission (SEC) and may have to restate past earnings statements, the company said Monday. Dell's board of directors began an internal financial audit after learning in August 2005 that the SEC had begun an investigation of the company's revenue recognition and accounting practices for past fiscal years, Dell executives acknowledged Aug. 17 while announcing preliminary results for the second quarter. Since then, Dell learned of a second investigation when the U.S. Attorney for the Southern District of New York subpoenaed the company's financial reporting documents for the years from 2002 through today, said Dell spokesman TR Reid. Neither the SEC nor New York State has announced the results of their investigations, but Dell's internal audit has now revealed that the company may have misstated prior financial reports, including accruals, reserves and other balance sheet items. Until it settles those questions, the company cannot file its SEC Form 10-Q, which confirms its quarterly results, Reid said. Those preliminary results were bad even before Monday's news. Dell earned only US$502 million in profits for the second quarter of 2006, a drop of 51 percent below that period last year. The decline was a casualty of cutting prices in a slow market, Dell Chief Executive Officer Kevin Rollins told analysts in August. Dell, the world's largest PC vendor, has felt increasing competitive pressure from Hewlett-Packard Co. at the same timeÂ chip makers like Intel Corp. have been cutting prices on processors, helping to drive down PC prices. And on Aug. 14, Dell announcedÂ the largest recall of consumer electronics in U.S. history, recalling 4.1 million notebook batteries that suffered from a defect causing them to overheat and sometimes catch fire. Dell is cooperating with both investigations and "will take any appropriate remedial or corrective actions to address any problems," company chairman and founder Michael Dell said in a release. The company has also suspended its share repurchasing program and a meeting with analysts scheduled for Sept. 13. Â
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Dell said Monday that it would delay the filing of its 10-Q report with the Securities and Exchange Commission, possibly setting the company up for a delisting notice by the NASDAQ in the coming days.
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(InfoWorld) - Graphics chip maker Nvidia found some irregularities in past stock-based compensation practices during an internal probe, and took a total of $127 million in non-cash charges over associated expenses, the company said Wednesday. The figure fell within theÂ $150 million chargeÂ Nvidia said it might have to take. The company also amended financial results for its fiscal year 2006 and the first two quarters of 2007 as a result of the internal probe. The non-cash charge and amendments to previous financial statements ends its internal probe, but an inquiry by the Securities and Exchange Commission (SEC) remains ongoing, Nvidia said. The restated earnings reports did not have a material impact on Nvidia's operating results, it said. The company plans to cooperate fully with the SEC. A number of technology companies have launched reviews over stock-based compensation to employees, finding instances in which stock options have been dated back to a time when the stock had hit a low. The practice is unfair to shareholders and was made almost impossible to legally execute by Sarbanes-Oxley, and for good reason. Stock options were designed as a way for employees to share in the success of the company and give them an added incentive. But by back-dating the options, employees -- often executives -- were essentially given shares that were already valuable. So far, stock options probes, carried out either by companies themselves or by the SEC, have affected over 160 companies.Â Investigations at memory chip developer RambusÂ andÂ security software vendor McAfeeÂ  have led to the resignation or firing of top executives.Â Apple ComputerÂ could be kicked off the Nasdaq by Dec. 29 if it fails to submit its SEC Form 10-Q for the quarter ended 1 July 2006, and any required restatements linked to its stock options probe by that time. Other companies have faced shareholder lawsuits over the issue.
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(InfoWorld) - Dell told government regulators on Monday that it cannot file a financial statement for its 401(k) plan, as the company continues to struggle with an investigation of its accounting practices. Dell hasÂ missed the deadlines for filingÂ its past three quarterly earnings reports, called Form 10-Qs, and its annual report, Form 10-K. That has earned it a series of warnings that the Nasdaq stock exchange may stop trading Dell securities. The company's trouble started last year when the U.S. Securities and Exchange Commission began an investigation into Dell's accounting practices. The U.S. Attorney for the Southern District of New York has launched a similar effort. To comply with investigators' demands, Dell initiated an internal audit, which has already foundÂ evidence of misconduct and accounting errors. As long as those investigations continue, Dell says its earnings reports will be only preliminary, not officially audited. The company has not yet decided whether it will have to restate past figures, but said in June it was nearing the end of its internal inspection. In the meantime, the company's results continue to sour, as Dell falls farther behind rival Hewlett-Packard in market share. In an effort to recapture profit, DellÂ announced deep layoffs in May, cutting 10 percent of its 88,100 jobs. The latest form Dell missed is for a financial statement called Form 11-k, describing the status of the 401(k) retirement savings plan for Dell Inc. and for Dell Financial Services LP. The company declined to file it because of the ongoing investigation, the same reason it gave for missed deadlines to file recent quarterly earnings reports, said Dell spokesman Bob Pearson. Dell missed the deadline "due to the questions raised in connection with the independent investigation being conducted by the Audit Committee of the company's Board of Directors," the company said in an SEC filing submitted Monday. "Management is committed to resolving the issues raised in connection with the investigation, and is working diligently to file the delayed reports as soon as possible," Dell said. Â
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Dell Inc. DELL.O said on Thursday it   received a delisting notice because it was late in filing a   quarterly financial report and plans to request a hearing   before a Nasdaq panel.
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Round Rock-based computer giant Dell Inc. (Nasdaq: DELL) is revamping customer service -- going so far as to make house calls. The reforms offer customers new avenues for help and a new stream of revenue for Dell.
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Fitch Ratings has placed Dell Inc.'s (Dell) ratings on Rating Watch Negative (RWN) following the company's decision to delay the filing of its Form 10-Q for the fiscal second quarter ended Aug. 4, 2006.
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As Apple and Dell continue wrestling with the degree of false value unreported options grants gave their respective companies, both announced they would be delaying their quarterly earnings filings with the US Securities and Exchange Commission.
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Computer maker Dell Inc.  said  on Monday it has suspended share repurchases and is delaying  the filing of its latest quarterly report with regulators amid  an expanded government accounting probe.
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We're delistening Accounting laggard Dell has received a delisting warning from Nasdaq officials.â¦
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Stock Market Alerts' performance stock list includes: Software Effective Solutions Inc. (PINKSHEETS: SFWJ), Apple Computer Inc. (NASDAQ: AAPL), SanDisk(R) Corporation (NASDAQ: SNDK) and Dell Inc. (NASDAQ: DELL).  Yesterday we told you to watch Software Effective Solutions Inc.
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By Crayton Harrison, The Dallas Morning News  Dec. 16--Dell Inc. is awaiting a panel's decision on whether its stock will continue to be listed on the Nasdaq stock market, the company said Friday.