Dell had previously announced that it had set up a reserve in the amount of $100 million that would possibly be used to settle a court case field by the SEC against the computer marker. The SEC alleged in its suit that Dell had used disclosure and accounting practices that violated federal securities laws and SEC rules from 2001 to 2006.
As of today, Dell has used that $100 million reserve set aside previously to settle the SEC investigation. Part of the settlement included the stipulation that Dell was not admitting to any wrongdoing.
Michael Dell has also agreed to pay a $4 million civil monetary penalty. The settlement comes with a permanent injunction against future violations but doesn’t place any restrictions on Dell’s service with the company.