SEC charges VMware for misleading investors

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Sep 12, 2022 at 8:39 p.m

The Securities and Exchange Commission accused VMware of “misleading investors about its backlog management practices,” which allowed the company to “push revenue into future quarters by delaying product shipments to customers and concealing the company’s slowing performance compared to its guidance.” “.

  • The SEC order notes that beginning in 2019, VMware began delaying the delivery of license keys for some sales orders until shortly after quarter-end, shifting tens of millions of dollars of revenue into future quarters
  • Without admitting or denying the findings in the SEC’s order, VMware agreed to an injunction and to pay an $8 million penalty

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