Dell Inc. (DELL) , whose relationship with Intel Corp. (INTC) has been under investigation by the Securities & Exchange Commission since 2005, has proposed a settlement to the agency to resolve the matter.
Under the terms of the proposed settlement, Dell would be fined and founder Michael Dell would be allowed to remain as chief executive officer. The Round Rock, Texas, company has set aside $100 million for the settlement of "accounting and financial reporting issues related to its partnership with the chipmaker."
Dell adjourned its annual meeting that was slated for today to give shareholders additional time to review information about the settlement discussions with SEC staff. The meeting was rescheduled for August 12.
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