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market movers

SEC examining Xerox unit’s accounting

SEC staff has advised against charging Xerox itself.

Reuters/File 2011

SEC staff has advised against charging Xerox itself.

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Xerox Corp. fell after the company said the Securities and Exchange Commission is investigating accounting practices at one of its units, Affiliated Computer Services Inc., an outsourcing company Xerox acquired in 2010. Executive vice president Lynn Blodgett and two other unidentified people — a current employee and a former one — got a Wells notice from the SEC, the company said. That means the SEC is considering civil enforcement action against them.

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