Xerox Documents Accounting Woes
"Xerox Corp. improperly booked nearly $2 billion in revenue over the past five years, the company said Friday, as the copier maker was forced to restate earnings to reflect $1.4 billion less in pre-tax profits during the period." [CNN Money]
Accounting Panic Hits Xerox
"Xerox admits overstating its profits by $1.4bn from 1997 to 2001, casting a fresh shadow over US corporate and auditing practices." [BBC News]
Xerox Hit by Fresh Scandal
"The company, whose name is synonymous with photocopiers, has already been fined $10m this year by the US financial watchdog, the securities and exchange commission, for overstating profits by $3bn between 1997 and 2001." By Mark Tran. [Guardian]
Xerox in $2bn Scandal
"Dollar plunges as firm admits exaggerating revenues." By Nils Pratley and Jill Treanor. [Guardian]
Xerox - A Carbon Copy Accounting Scandal
"CNN is reporting that Xerox incorrectly booked close to $6 billion in revenue over the past five years." News and reader discussion. [Plastic]
Xerox Settles SEC Enforcement Action Charging Company With Fraud
Press release. "The Securities and Exchange Commission today filed suit against Xerox Corporation in connection with a wide-ranging, four-year scheme to defraud investors."
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