Several former Dell employees have been contacted by the Securities and Exchange Commission and told they should expect to see civil or administrative action taken against them, according to an SEC filing by the company.
The former employees, whom Dell did not name in the filing, have received Wells notices, which is a preliminary decision by the SEC recommending civil or administrative action. "It is possible that other individuals have received or will receive such notices," according to the filing.
The notices likely are linked to the SEC's inquiry into Dell's accounting and financial reporting from 2001 to 2005. Dell previously noted that it has had preliminary discussions about a potential settlement of the matter.
Dell also did not identify if any current employees had received the Wells notices from the SEC.
"Thus far, an agreement has not been reached. Dell believes that any resolution would likely include monetary penalties, which cannot be quantified at this time, and other relief within the SEC's authority," according to the SEC filing on April 1. "Dell's discussions with the SEC staff are ongoing, and no assurance can be given as to the ultimate outcome of this matter, including the terms and conditions of any settlement."
