| Company: | Dell, Inc. |
| Ticker Symbol: | NASD: DELL |
| Class Period: | February 13, 2003 to September 8, 2006 |
| Date Filed: | Sep-13-06 |
| Lead Plaintiff Deadline: | Nov-13-06 |
| Court: | Western District, TX |
| Allegations: |
A lawsuit seeking class action status has been filed in the United States District Court for the Western District of Texas on behalf of all persons who purchased the publicly traded securities of Dell, Inc. (the "Company") (Nasdaq:DELL) between February 13, 2003 and September 8, 2006, inclusive, (the "Class Period").
The Complaint alleges that Dell, Inc. violated federal securities laws by reporting inflated financial results, including its accrual and reserves. It is alleged that the defendants concealed that the SEC was investigating Dell, Inc.'s revenue recognition and accounting practices. Defendants began reducing sales and profit projections as Dell, Inc. began missing its own revenue, EPS and unit sales growth targets, causing significant declines in its stock price. In order to support the Company's stock price, Dell, Inc. continued concealing the full extent of the problems and promising a quick turnaround.
On August 17, 2006, Dell, Inc. announced its fifth consecutive quarter of disappointing results, again significantly missing its revenue and EPS targets. The Company also revealed that the SEC had begun investigating its revenue recognition and accounting practices in August 2005, and in connection with its own internal accounting review it had recently discovered information that raised potential issues relating to certain periods prior to fiscal 2006. Dell, Inc. also disclosed that its Audit Committee was undertaking a full review.
Finally, on September 11, 2006, defendants disclosed that Dell, Inc. would not be able to file its interim financial report for its second quarter of 2007 and that the U.S. Attorney's Office for the Southern District of New York had served Dell with a subpoena requesting documents concerning its accounting and financial reporting between 2002 and 2006.
If you acquired the securities of Dell, Inc. during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint alleges that Dell, Inc. violated federal securities laws by reporting inflated financial results, including its accrual and reserves. It is alleged that the defendants concealed that the SEC was investigating Dell, Inc.'s revenue recognition and accounting practices. Defendants began reducing sales and profit projections as Dell, Inc. began missing its own revenue, EPS and unit sales growth targets, causing significant declines in its stock price. In order to support the Company's stock price, Dell, Inc. continued concealing the full extent of the problems and promising a quick turnaround.
On August 17, 2006, Dell, Inc. announced its fifth consecutive quarter of disappointing results, again significantly missing its revenue and EPS targets. The Company also revealed that the SEC had begun investigating its revenue recognition and accounting practices in August 2005, and in connection with its own internal accounting review it had recently discovered information that raised potential issues relating to certain periods prior to fiscal 2006. Dell, Inc. also disclosed that its Audit Committee was undertaking a full review.
Finally, on September 11, 2006, defendants disclosed that Dell, Inc. would not be able to file its interim financial report for its second quarter of 2007 and that the U.S. Attorney's Office for the Southern District of New York had served Dell with a subpoena requesting documents concerning its accounting and financial reporting between 2002 and 2006.
If you acquired the securities of Dell, Inc. during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
