SEC Stops Looking At Porn Long Enough To Investigate Dell

While some SEC employees were up to their eyeballs in porn during office hours in recent years, apparently some have continued to do their job, as Dell announced today that it is nearing a settlement to a prolonged SEC investigation that could cost the computer company upwards of $100 million.

If the SEC agrees to the settlement, it would be the result of a five-year investigation into possible violations of federal securities laws with regards to Dell’s accounting practices and its relationship with Intel, the computer chip manufacturer.

In August 2007, Dell execs admitted to filing three years worth of false quarterly returns in order to appear as if the company had met its sales goals.

According to the NY Times, Dell CEO Michael Dell, who had stepped down from the chief executive gig at his namesake company in March 2004 only to reascend to the throne in January 2007, is in talks with the S.E.C. “about settling allegations against him that involve Intel.”

A Dell mouthpiece said any settlement would be made without the computer company admitting or denying the allegations made against it. Additionally, the settlement would include a provision that would not prohibit Mr. Dell from serving as a company officer or on the Dell board of directors.

Says a really rich guy who sits on said board:

We are hopeful that these settlement discussions will achieve a comprehensive resolution in the near future… The independent directors of the board have affirmed that Michael Dell will continue to lead the company as its chairman and C.E.O., and he continues to have our complete confidence and support.

Dell in Talks to Settle S.E.C. Inquiry [NY Times]