Contact Us

PW Case Review Form
*    Denotes required field.

   * First Name 

   * Last Name 

   * Email 

Phone 

   * Please describe your case:

What injury have you suffered?

For verification purposes, please answer the below question:
+
=

No Yes, I agree to the Parker Waichman LLP disclaimers. Click here to review.

Yes, I would like to receive the Parker Waichman LLP monthly newsletter, InjuryAlert.

please do not fill out the field below.


Ex-Xerox Execs Banned From Accounting

Jul 10, 2003 | AP The Securities and Exchange Commission settled a case against two former Xerox Corp. executives, banning them from practicing as accountants for their alleged role in accounting fraud at the company.

According to the agency, Barry Romeril, Xerox’s former chief financial officer, was permanently barred Monday from working as an accountant. Gregory Tayler, the company’s former director of accounting policy, was suspended for three years with the right to reapply for reinstatement.

Both men settled the action without admitting or denying any wrongdoing. Both agreed June 5 to pay almost $5.5 million in fines and interest to settle a civil fraud case.

The SEC alleged the defendants misled investors about Xerox’s earnings to inflate its stock price. As a result, the SEC said, the executives benefited from higher compensation and higher prices for personal sales of stock.

Romeril directed or allowed lower ranking individuals in the financial department to make accounting adjustments to accelerate revenue and increase earnings, the SEC said.

Last year, Xerox paid a $10 million civil fine, the largest ever at the time, to settle complaints relating to the same matter.

Related articles
Parker Waichman Accolades And Reviews Best Lawyers Find Us On Avvo