Dell Technologies Inc. has agreed to pay $1 billion to resolve a lawsuit. As per the accusation, the company misled some investors in a $24 billion deal that saw it become a publicly traded corporation again.
Dell said the settlement will be reported in its third-quarter results and is subject to approval by a Delaware Chancery Court judge in a regulatory filing on Wednesday. It stated that some of the settlement sum may be paid by insurers.
The contested deal from December 2018 concerned Dell’s ownership stake in the software developer VMWare.
All outstanding Class V shares were acquired by Dell for $14 billion in cash and 149.4 million Class C shares.
According to the report, owners of Class V shares alleged that the transaction was carried out at a substantial discount to fair value. According to Dell, the agreement also addresses charges made against the lawsuit’s defendant, Goldman Sachs Group Inc.
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