Xerox Corporation (NYSE:XRX) Investor Investigation Concerning Potential Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Xerox
Affected Securities: 
NYSE: XRX

October 11, 2013 (Shareholders Foundation) - An investigation on behalf of investors in shares of Xerox Corporation (NYSE:XRX) was announced concerning whether certain Xerox officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns, among other things, whether certain Xerox officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.

Xerox Corporation reported that its annual Total Revenue declined from over $22.62 billion in 2011 to $22.39 billion in 2012 and that its respective Net Income decreased from over $1.27 billion to over $1.19 billion.

Shares of Xerox Corporation (NYSE:XRX) declined from $12.00 in later 2010 to as low as $6.23 per share in November 2012.

Xerox Corporation reported that for the first quarter in 2013 Total Revenue of over $5.2 billion with first quarter Net income of $296 million.

For the second quarter Xerox Corporation reported Total revenue of over $5.4 billion in 2013, compared to over $5.36 billion in 2012, while its second quarter Net Income in 2013 of $271 million declined compared to the second quarter Net income in 2012 of $309.00 million.

Shares of Xerox Corporation grew from slightly over $6 in November 2012 to as high as $10.74 per share on Oct. 11, 2013.