U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

Dell Inc. et al.

On July 22, 2010, the SEC filed a Complaint against Dell Inc. (Dell) and certain of its current and former senior executives, Michael S. Dell, Kevin B. Rollins, James M. Schneider, Leslie L. Jackson and Nicholas A.R. Dunning. According to the Complaint, among other things, the defendants, from 2001 through 2006, failed to disclose material information (specifically, the receipt of large payments from Intel Corporation) to investors and used fraudulent accounting to make it falsely appear that Dell was consistently meeting Wall Street earning targets and reducing its operating expenses. As part of the Final Judgments entered by the United States District Court for the District of Columbia on October 13, 2010, the defendants agreed to pay approximately $111,418,947.00, plus accrued interest.

On August 27, 2010, the SEC filed related cases against two former Dell officers, Robert W. Davis and Randall D. Imhoff, for alleged accounting misconduct. As part of the Final Judgments, they agreed to pay $203,158.00 and $44,049.00, respectively.

On October 21, 2011, the SEC filed a Motion for Establishment of a Fair Fund and Appointment of Distribution Agent. On November 15, 2011, the Court granted the SEC's Motion appointing the Garden City Group, Inc. (GCG) as Distribution Agent to oversee the administration of claims to harmed Dell investors and to distribute the Dell SEC Fair Fund under the terms of the distribution plan. For additional information about the Dell SEC Fair Fund, including the distribution plan, and notice and claims forms, please visit GCG's website at http://www.dellsecsettlement.com.


Modified: 2/13/2013