SEC threatens Apple, Dell & nVidia

[jynxedu]

http://www.betanews.com/article/Dell...ice/1158853421

Quote:

As a result of investigations from the U.S. Securities and Exchange Commission into possible inappropriate accounting among major corporations, many -- including Apple and nVidia -- have received notices from the NASDAQ stock exchange threatening possible de-listing if they don't file their quarterly 10-Q public status reports on time. Add Dell to that list this morning.

finally holding someone accoutable, even if its only a threat.

[SeanC]

If they're being investigated by the SEC, shouldn't they be holding back filing their financials?

[RobRich]

Quote:

Originally Posted by SeanC

If they're being investigated by the SEC, shouldn't they be holding back filing their financials?

That makes sense from the corporate perspective, but NASDAQ has mandatory filing rules, meaning companies delaying 10-Q and other statements can face possible delisting.

[SeanC]

Oh I see, I didn't know that. I thought the SEC controlled the stock exchanges. I'm not a financial person so, oops.

[osprey4]

What's the big deal? Companies delay 10-Qs for many reasons, usually to prevent mis-statements. Under Sarbanes-Oxley, a wrong statement is much worse than a late statement, so one could say the SEC has made their own bed in this case.