Investigation Woes Plague Dell, HP, Apple
Dell announced Monday that they will delay the filing of their quarterly results with the Securities and Exchange Commission due to an informal SEC probe that may point to misstatements in previous reports. This comes at a time when two other large computer companies are facing investigations into their internal dealings.
California’s attorney general is looking into allegations that HP hired investigators who utilized the illegal practice of “pretexting” -- pretending to be someone else in order to obtain their personal records -- to acquire phone records to suss out a potential leak on the HP board. Board member Thomas Perkins has already resigned in protest over the scandal, while George Keyworth, accused of being the source of the leaks in question, has refused a request to resign. The board has yet to decide whether or not to ask Chairwoman Patricia Dunn to resign, in spite of an emergency meeting held Sunday.
Finally, Apple is conducting its own investigation into stock irregularities dating back to 1997. The investigation delayed the filing of their latest quarterly report with the SEC. Apple claims it will have to restate earnings between 2003 and 2005 as a result of the internal audit.
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