Defendant Name: VMware, Inc.

Defendant Type: Public Company
SIC Code: 7372
CUSIP: 92856340

Initial Case Details

Legal Case Name In the Matter of VMware, Inc.
First Document Date 12-Sep-2022
Initial Filing Format Administrative Action
File Number 3-21065
Allegation Type Issuer Reporting and Disclosure
AAER 4333

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 12-Sep-2022
Headline Total Penalty and Disgorgement $8,000,000

Related Documents:

2022-160 12-Sep-2022 Press Release--Administrative Proceeding
SEC Charges VMWare with Misleading Investors by Obscuring Financial Performance
The SEC stated that: "[It] charged VMware Inc. for misleading investors about its order backlog management practices, which enabled the Palo Alto, California-based technology company to push revenue into future quarters by delaying product deliveries to customers, concealing the company’s slowing performance relative to its projections."
33-11099 12-Sep-2022 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 12, 2022, the SEC instituted settled cease-and-desist proceedings against VMware, Inc., stating: "This matter concerns VMware's omission of material information in its disclosures concerning its order "backlog" and revenue management, in quarterly and annual Exchange Act reports, on earnings calls, and in earnings releases, during its 2019 and 2020 fiscal years (the "relevant period")"