Dell threatened with de-listing

Must file late forms before July 16th deadline to avoid being removed from NASDAQ
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Dell is being threatened with the possibility of being de-listed from the stock exchange by NASDAQ.

Dell has until the deadline of July 16th to file a years worth of financial reports, which the company has up to now, failed to submit to the stock exchange.

It is hoping that its appeal to the board of NASDAQ to extend the deadline will be heard. It is currently carrying out an internal investigation into its accounting and financial reporting – an investigation which has so far turned up accounting errors, evidence of misconduct and deficiencies in the financial control environment.

Dell has said that it can't file its overdue reports until the investigation is complete without the risk of filing potentially false figures.

Even if the board of NASDAQ do turn down the company's request for an extension it has the ability to apply to appeal to the Securities and Exchange Commission.

"We have set out to really transform the company," Dell Chairman and CEO Michael Dell said in a news conference earlier this week. "We have looked at the company very broadly. There are things we are doing that are working well. Things that aren't working so well."

"We've got a bunch of areas to improve in the current business. We want to do things we've got to do to re-ignite our growth," added Dell. "We need to change the way we're organized a bit. There are some totally new areas we're expanding into like services, new geographies, new product lines, you'll see some additional partnerships, acquisitions."

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