Dell is facing an investor lawsuit alleging that it improperly accounted for hundreds of millions of dollars in payments from its longtime partner Intel.

In a lawsuit filed Wednesday by class action lawyer William Lerach, plaintiffs allege that the computer giant was receiving as much as $1 billion a year in "secret and likely illegal" kickbacks from Intel to ensure that Dell used no other chipmaker..

The suit was filed in the U.S. District Court in Austin, Texas, it said. Officials at the law firm could not immediately be reached for comment.

A Dell spokesman said the company does not comment on pending litigation. The company has not seen the lawsuit, he added.

Dell on Wednesday named founder Michael Dell as chief executive, replacing Kevin Rollins as the No. 2 computer maker struggles with missteps in the U.S. consumer market and market share losses to Hewlett-Packard

By: DocMemory
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