Dell Inc. Insider Trading

Washington, DC: (Oct-09-07) The US Securities and Exchange Commission (SEC) brought charges against Salvador Chavarria, Glenn Leftwich, and John Nieto, three Dell Inc. accountants, accusing them of insider trading. The suit claimed that the three engaged in unlawful insider trading in Dell securities ahead of a public announcement on Aug. 11, 2005, that Dell's second quarter 2006 revenues had fallen short of the personal computer maker's earlier guidance and analysts' expectations. As part of a settlement reached with two of the three accused, Chavarria and Nieto settled with the SEC without admitting or denying the allegations. The two agreed to pay civil penalties of $153,240 and $16,677, respectively. The charges against Leftwich are still pending. [REUTERS: DELL INSIDER TRADINER]

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Published on Oct-11-07