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

NASA finds bodies of aliens and flying saucer on Mars
NASA finds bodies of aliens and flying saucer on Mars
NASA scientists found strange objects reminiscent of a flying saucer and bodies of extraterrestrial beings when studying photo images of the surface of Mars
New Apocalypse in 2017: Planet Nibiru approaching
New Apocalypse in 2017: Planet Nibiru approaching
Predictions for the so-called "end of the world" appear on a regular basis, almost every year, and the new year 2017 is no exception at this point. According to recent reports, the world will cease to...
Рейтинг@Mail.ru Rambler_s_Top100_Service