US Attorney investigating Xerox accounting practices
Xerox Corporation has said the US Attorney’s office in Connecticut is investigating its past accounting practices. Full details of the probe have not yet emerged, but it comes five months after Xerox paid the Securities and Exchange Commission (SEC) $10 million to settle charges that it had manipulated its financial results. Under the terms of the SEC settlement, Xerox restated its financial results for 1997 through 2000 and adjusted its 2001 results. It paid a civil fine, but was not required to admit or deny the allegations of the complaint. In a statement Xerox said it would fully cooperate with the US Attorney’s investigation.
24-Sep-2002
