The Nasdaq stock market has granted a request from Dell to extend a deadline for filing late reports with the US Securities and Exchange Commission, the company announced.
Dell now has until July 16 to file its past three quarterly earnings reports, called Form 10-Qs, and its annual report, Form 10-K, but the company will ask for more time as it continues an investigation into past accounting practices, said David Frink, a company spokesman. Nasdaq has warned that the company could face delisting for the delinquent reports.
Asked what could happen if Nasdaq does not extend the deadline again, Frink said: "I'm not going to speculate on that.”
Dell has "every reason to believe" Nasdaq will review the request, and past precedence exists for an extension, he said.
The SEC began an investigation into Dell's accounting practices last year, and the US Attorney for the Southern District of New York has begun an investigation as well. Dell launched an internal audit and found evidence of misconduct and accounting errors.
The company continues to comply with the SEC investigation, Frink said. The company is moving toward a conclusion of its internal investigation, he added.
Nasdaq officials were not immediately available for comment on the Dell extension
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