Pravda.ru

News » Business

Xerox Corp receives approval to settle securities lawsuit

27.03.2008 | Source:

Pravda.Ru

 
Xerox Corp receives approval to settle securities lawsuit

Xerox Corporation (NYSE: XRX) has got preliminary court approval to settle a $670-million-worth financial lawsuit.

The global document management company was sued in 2000 for misleading investors about the corporation’s financial state. By employing several "accounting maneuvers," Xerox managed to hide information about the stock that fell from a high of $63.69 to a low of $4.43 during 1998-2000. Xerox didn’t admit guilt.

Xerox will continue its dividend payments and its stock buyback program as the financial state is improved.

Photo: www.bloomberg.com

 







Popular photos


Most popular

Russia wipes out secret centre of Western coalition
Russia wipes out secret centre of Western coalition
The Fars News has reported that ‘The Russian warships fired three Caliber missiles at the foreign officers' coordination operations room in Dar Ezza region, killing 30 Israeli and western officers’.
Russia takes Mediterranean under control
Russia takes Mediterranean under control
The Russian Navy has been actively exploiting strategic space of the Eastern and Western Mediterranean. After having built-up presence of the Russian warships in the port of Tartus, Syria, the...
Рейтинг@Mail.ru Rambler_s_Top100_Service