News Notes: Xerox To Settle Pension Lawsuit

We reported in September on a federal appeal court ruling that Xerox Corp.’s pension plan improperly calculated lump-sum distributions from cash balance retirement accounts, resulting in lower benefits for certain employees who left the company between 1990 and 1999. Now Xerox has agreed to pay $239 million to settle the lawsuit, ending speculation over whether the company would appeal the ruling to the Supreme Court or seek a rehearing.