Brett Molina

USA TODAY

A Delaware judge ruled Tuesday Michael Dell and Silver Lake Partners underpaid for personal computer maker Dell by 22% as part of a buyout in 2013 worth more than $24 billion.

According to Reuters, the fair value of Dell's stock was $17.62 per share. Michael Dell and Silver Lake bought out the company for $13.75 a share, eventually taking it private.

Several shareholders, including activist investor Carl Icahn and Southeastern Asset Management, opposed the buyout offer in 2013, claiming that it greatly undervalued the PC maker. Icahn eventually dropped his bid to block the deal.

The court's decision could mean Dell must pay tens of millions to investors who were against the buyout, says the report.

Since going private, Michael Dell has embarked on a turnaround aimed at a deeper push into the enterprise market. Last October, Dell confirmed it was taking over storage and software company EMC for $67 billion.

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