The final settlement is still subject to court approval and negotiation of a definitive agreement, but Xerox had already reported a first-quarter pre-tax charge of 177.3m ($300m) in April to cover any pension funding shortfall if required to pay damages.

Lawyers for the employees who brought the case said that it covered at least 25,000 former staff who chose to receive pension benefits in one payment, rather than separate monthly cheques (PrintWeek, 27 July 2001).