Dell Fined By Australian Court For Misleading Customers: Report

Dell Technologies Inc DELL has been penalized by Australia's Federal Court to pay A$10 million ($6.46 million) for misleading representations about discounts for add-on computer monitors on its website.

In June, Dell Australia was found guilty by the Federal Court for misleading customers about the prices or discounts, reported Reuters.

Between August 2019 and December 16, 2021, Dell Australia sold over 5,300 add-on monitors with overstated discounts.

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Dell's spokesperson told Reuters, "with impacted customers to provide appropriate refunds plus interest and are taking steps to improve our pricing processes to ensure this sort of error does not happen again."

Last week, Morgan Stanley raised its bull case valuation on the stock from $81 to $84, with focus of the case is on DELL's leveraging of generative AI technology, with the company recently placing build orders for 15k to 25k AI servers in CY23 to 24.

Price Action: DELL shares are trading higher by 0.72% at $57.25 premarket on the last check Monday.