Xerox and KPMG have agreed to settle a shareholder lawsuit dating back to 2000 claiming that Xerox manipulated its accounting to inflate its earnings.
Under the proposed agreement, Xerox will make cash payments totaling $670 million, while KPMG, Xerox's former outside auditor and a co-defendant, will pay $80 million into the settlement fund. Xerox expects to make its payments in five installments this year.
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