Xerox To Pay $670M To Settle Securities Suit

Law360, New York (March 28, 2008, 12:00 AM EDT) -- Xerox Corp. revealed Thursday that it had agreed to shell out a whopping $670 million to lay to rest a long-running securities class action brought on behalf of investors who claimed they were harmed by a scheme to artificially boost the value of the office hardware company's stock.

The company said in a statement that it had received preliminary court approval to settle the lawsuit in the U.S. District Court for the District of Connecticut, noting that it did not admit to any wrongdoing as part...
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