VMware to pay $8M fine, settling charges it fudged the timing of backlogged orders
Tuesday 13 September 2022
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At a time when vendor order backlogs are at an all-time high and scrutiny of them is as well, VMware has agreed to pay an $8 million fine for disingenuous backlog reporting practices in 2019 and 2020.
The Securities and Exchange Commission had charged VMware for misleading investors about its order backlog management practices, specifically stating that VMware had moved revenue into future quarters by delaying product deliveries to customers, concealing the company’s slowing performance relative to its projections, the SEC stated.
from Network World https://ift.tt/r6nvKcX
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