Dell Digs Up the Dirt

Updated from March 29

Dell(DELL Quote) said it has discovered evidence of misconduct and a number of accounting errors -- the company's most serious admission about its bookkeeping practices that triggered an investigation by the Securities and Exchange Commission.

The computer giant also will not be able to file its annual report on time because of the investigation, and will miss the April 18 extension date to file the 10-K report. Dell is already delinquent in filing its quarterly report for the third quarter of fiscal 2007.

The delinquencies have put Dell at risk of being delisted from the Nasdaq, although the exchange has stayed action to delist the stock pending a full review by a Nasdaq special council. ...