Dell, Intel and PwC Lawsuit Seeks Class Action Status

A lawsuit seeking class action status has been commenced on behalf of two institutional investors who claims that computer manufacturer Dell Inc. inflated its profits with secret payments of about $1 billion a year from chip maker Intel Corp.

The suit is filed for investors who bought Dell stock from February 2003 to September 2006, alleging that Dell concealed problems in its accounting and product quality from shareholders.

Spokesmen for Dell have declined comment, while spokespeople for Intel vowed to fight the lawsuit, saying that the company had nothing wrong.

Link [www.webcpa.com/article.cfm?articleid=23292]

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