Dell's Financial Reporting Woes Persist

Amidst questions surrounding the reporting of its financial results, Dell said Monday that it would delay the filing of its 10-Q report with the Securities and Exchange Commission. The failure to file the required detailed quarterly financial filing with the agency could set the company up to be threatened with a delisting by NASDAQ in the coming days.

While NASDAQ has threatened Apple and other companies with a delisting over their delayed 10-Q filings, those warnings surrounded the reporting of stock option grants. In Dell's case, the problem relates to an investigation into the misstatements of prior financial results.

In addition to the SEC investigation, the Round Rock, Texas based computer manufacturer is also the target of an inquiry by the United States Attorney for the Southern District of New York. There, the financial records of the company dating back to 2002 have been subpoenaed.

"We are fully cooperating with the investigations and working to resolve any and all issues raised in connection with those investigations as quickly as possible, and we will take any appropriate remedial or corrective actions to address any problems," Chairman Michael Dell said in a statement.

Dell has also launched an internal investigation through its Audit Committee, which said in a statement that they continued to look into the allegations. "We have not yet reached any conclusion on materiality as to these issues," Audit Committee chair Don Carty said. "We are continuing to investigate the matter fully."

The delay in the filing has also caused Dell to delay its analysts meeting scheduled for Wednesday, although the company's Technology Day program would still take place on Tuesday.