Dell delays filing fiscal reports...again
Likely to miss SEC deadline, could de-listing follow?
Dell will once again hold back filing its 2007 financial statements to the US Securities and Exchange Commission (SEC) because it is yet to complete an internal investigation into its accounting practices.
The direct computer giant, which earlier this week confirmed that the SEC had set a mid-July deadline for it to file its fiscal reports, has been looking into accounting errors as well as evidence of misconduct at the firm.
The SEC warned Dell that failure to file reports by 16 July could lead to a delisting on the Nasdaq exchange.
The firm has missed filings for its last three quarterly reports and its 2006 annual report.
In a letter to the SEC dated 2 July, Dell said:
"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." ®