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Xerox Reaches Settlement With SEC

Xerox Corp. has reached a settlement with the Securities and Exchange Commission after the agency filed a lawsuit in federal court in New York, alleging that the office-equipment manufacturer used "accounting tricks" and "accounting opportunities" to boost its earnings. Xerox agreed last week to pay a $10 million civil penalty and to revise financial statements back to 1997 to settle regulators' allegations of accounting fraud.

April 12, 2002 at 12:00 AM

1 minute read

By Marcy Gordon | Updated on April 12, 2002
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