Nasdaq chides Dell for a second time
Accounting laggard Dell has received a delisting warning from Nasdaq officials.
Dell - one of the greatest performers in Nasdaq history - has failed to file documents summing up its third fiscal quarter with the US Securities and Exchange Commission in a timely fashion. The computer maker did the same thing last quarter at which time it also received a warning from the Nasdaq. Ongoing accounting investigations by the SEC and the Southern District of New York have been blamed for Dell's paperwork problems.
"The company is delaying the filing of the Form 10-Q for its fiscal third quarter ended November 3, 2006 because of questions raised in connection with those ongoing investigations," Dell said. "The company is committed to resolving the issues raised in connection with the investigations, and regaining compliance with all SEC filing requirements (including the filing of its Forms 10-Q for the fiscal second and third quarters of 2007) and all NASDAQ listing requirements, as soon as possible."
The accounting issue has not done much to hurt Dell's share price, although financial analysts have complained about a lack of information from the company. Dell has yet to reveal much about the accounting investigations. ®