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Xerox faces fresh accounts inquiry.(Xerox Corp.)
Xerox is under a fresh investigation into its accounting practices, this time by the US Attorney's office in Connecticut.
The new inquiry follows a detailed two-year investigation by the stock market regulator, the Securities and Exchange Commission (SEC), which resulted in a pounds 7m (dollars 10m) civil settlement in April (PrintWeek, 5 April).
The settlement was one of the largest recorded in the US, despite the company denying it had committed any wrongdoing.
Xerox's director of corporate public relations, Christa Carone, said the company's understanding was that the latest inquiry would be into matters that had previously been settled in the SEC investigation.
Carone declined to comment on how long the inquiry could take, or the full context of the investigation.
As part of Xerox's agreement with the SEC, it agreed to publish adjusted 2001 results and restated figures for 1997-2000, which ...
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