Milberg Weiss Bershad & Schulman announced Tuesday it is investigating whether Dell violated its fiduciary responsibilities to its 401(k) plan by offering company stock as an investment option in the plan and not releasing the firm's true financial condition.

The law firm has been investigating whether the company violated the Employee Retirement Income Security Act of 1974 for several months. The probe comes on the heels a number of related, class-action lawsuits against Dell charging that the company inflated its financial results for certain periods.

The Securities and Exchange Commission and U.S. Attorney's Office for the Southern District of New York are investigating claims that Dell inflated financial results by engaging in improper revenue recognition and accounting practices.

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