*NEWS*XEROX:SETTLEMENT ON PENSION LAWSUIT

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*NEWS*XEROX:SETTLEMENT ON PENSION LAWSUIT

 user 2003-11-17 at 10:24:00 am Views: 95
  • #8515
    Xerox reaches Settlement on Pension Lawsuit
     Office equipment maker Xerox Corp. on Friday said its retirement plan has reached an agreement to settle a lawsuit over payments to former workers, requiring the plan to pay $239 million.

    Stamford, Connecticut-based Xerox said the deal is an agreement-in-principle, with a final settlement subject to the negotiation of a definitive agreement and court approval.

    In April, Xerox reported a first-quarter pre-tax charge of $300 million to cover any potential pension- funding shortfall should RIGP be required to pay damages in this case