Dell Finds Accounting Errors, Evidence of Misconduct
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Dell Inc. said it found evidence of misconduct and errors in its accounting amid investigations into the computer maker’s financial results. The shares fell as much as 8% in extended trading. The company will miss an extended deadline for filing an annual report. Officials are trying to determine if Dell will need to restate financial results, the company said yesterday. The remarks heightened concern among investors after a probe by the U.S. Securities and Exchange Commission was escalated into a formal investigation in November. Dell has said the probes indicated possible errors related to so-called accruals and reserves — estimates of expenses or losses that have occurred but haven’t been paid out yet.
