VMware Announces Settlement of Previously Disclosed Investigation by the Securities and Exchange Commission
September 12 2022 - 5:36PM
Business Wire
VMware, Inc. (NYSE: VMW) (the “Company”) today announced that it
has reached a settlement with the U.S. Securities and Exchange
Commission (the “SEC”) to resolve a previously disclosed
investigation related to the Company’s backlog disclosures in
public filings for its 2019 and 2020 fiscal years, which ran from
February 3, 2018 through January 31, 2020.
Under the terms of the settlement, the Company has agreed to pay
a civil monetary penalty of $8 million without admitting or denying
the SEC’s findings, which relate to the Company's disclosures. The
SEC’s findings do not include any findings that the Company failed
to comply with generally accepted accounting principles. The SEC
Staff has confirmed that it does not intend to recommend
enforcement action against any current or former VMware officers or
other member of management in connection with the investigation,
and this settlement concludes the matter.
VMware believes this settlement is the right course of action
for the Company and continues to be committed to operating at the
highest level of integrity, including with respect to its public
filings and communications with investors.
About VMware
VMware is a leading provider of multi-cloud services for all
apps, enabling digital innovation with enterprise control. As a
trusted foundation to accelerate innovation, VMware software gives
businesses the flexibility and choice they need to build the
future. Headquartered in Palo Alto, California, VMware is committed
to building a better future through the company’s 2030 Agenda. For
more information, please visit www.vmware.com/company.
VMware is a registered trademark of VMware, Inc. in the United
States, and other jurisdictions.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220912005968/en/
Doreen Ruyak VMware Global Communications 1.202.744.9767
druyak@vmware.com
Vmware (NYSE:VMW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vmware (NYSE:VMW)
Historical Stock Chart
From Sep 2023 to Sep 2024