EMC Agrees to Pay $87.5 Million to Settle U.S. Probe

EMC Corp. said on Friday that it has agreed to pay $87.5 million to settle a U.S. probe into its pricing practices on sales to federal government agencies, without admitting any wrongdoing.

"EMC and the Department of Justice have agreed in principle to a settlement," said EMC spokesman Dave Farmer.

The deal averts the risk that the maker of data storage equipment could be suspended or disbarred from selling goods to the U.S. government, one of the world's biggest buyers of technology products. To read the complete article click here.