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More Trouble At Dell

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  • More Trouble At Dell



    The bad news for Dell isn't over yet.

    On Monday the direct-sale computer giant announced it is delaying filing its second-quarter results because of an informal investigation into the company's accounting by the U.S. Securities and Exchange Commission.

    "The investigations have indicated the possibility of misstatements in prior-period financial reports, including issues relating to accruals, reserves and other balance sheet items that may affect the company's previously reported financial results," the company said in a press release.

    The U.S. Justice Department and the audit committee of Dell's (nasdaq: DELL - news - people ) board of directors also are looking into the matter. The Justice Department has subpoenaed documents relating to Dell's financial reporting as far back as 2002.

    The announcement was enough to rattle investors, as Dell shares fell more than 4% in early trading on Monday. The stock fell 86 cents, to $20.79.
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