Dell moves to settle SEC accounting case

Dell is hoping to end its case with the SEC

Dell is to propose a settlement with the US Securities and Exchange Commission to end a long-running accounting case.

The agreement will be in line with the terms laid out in Dell's June quarterly report, which included a $100m (£65m) reserve to pay fines, and a clause that chairman and chief executive Michael Dell be allowed to continue as head of the company.

If accepted, the settlement will end an investigation of the company and Michael Dell over accounting practices.

Dell had admitted to misleading analysts about its earning reports over a five-year period from 2003 to 2007. An internal investigation found that numbers had been adjusted in order to meet earnings goals.

The company will adjourn its annual meeting until 12 August to allow investors time to consider the latest developments.