SEC charges VMware with hiding slowing sales from investors

VMware misled investors about its order backlog management processes that allowed it to roll revenue into future quarters by postponing product delivery dates to customers to conceal slowing sales relative to forecasts. This is the damning charge thrown at the virtualization linchpin by the Securities and Exchange Commission …

[FirstTangoInParis]

Hush money?

So what is this 8 million then? Openly announced hush money? Handed over in the town square rather than in a darkened car park?

[Pascal Monett]

"without admitting or denying the SEC's findings"

You're paying.

You've admitted.

I am sick and tired of this PR bullshit.

[VoiceOfTruth]

Re: "without admitting or denying the SEC's findings"

It is corruption. Yet the USA loves to point accusing fingers at corruption overseas.

[Robert Grant]

Re: "without admitting or denying the SEC's findings"

The SEC is allowing them to settle. It should not be doing that.

[O RLY]

Who's the Chairman of the Board?

Oh, right. This guy.

https://www.sec.gov/news/press/2010/2010-131.htm

[Anonymous Coward]

This is illegal?

Maybe not identically but, companies have been doing this forever with "discounts" and "promotions" since... ever. "Holiday sale", "Easter Sale", "Summer Sale"... any time I see a sale I think of a quarterly dump/pump.

[Marty McFly]

Broadcom over paying??

Hmmm.... Which set of books did Broadcom base their offer upon?

Really need the popcorn icon, Reg. This could turn entertaining.

[FlamingDeath]

Idiocracy

“I Like Money” - Frito

[sketharaman]

Postpone or "Prepone"?

When other companies advance ("prepone") delivery dates to obfuscate an otherwise slow quarter, how did VMware manage to achieve that effect by postponing delivery dates?

[NameisFake]

Been there

They sandbagged and fudged selected rev categories (move ela rev to nsx as needed) the entire time I was there. Commissions were also paid during the period but keys weren’t made available until the next month began. When I asked why the patent response was “we didn’t need the revenue. It’s a good problem to have.”