• Xerox is sliding after being sued by one of its largest shareholders

    One year ago - By Business Insider

    Billionaire investor Darwin Deason has sued Xerox to block its proposed merger with Fujifilm.
    Shares of Xerox sank more than 3% on the news; Fujifilm was also down.
    Shares of Xerox plunged as much as 3.35% Tuesday morning after one of its largest shareholders, billionaire Darwin Deason, filed a lawsuit against the company to block its proposed merger with Japan's Fujifilm.
    The 78-year-old who sold Affiliated Computer Services to Xerox in 1988 for $6.4 billion hopes to halt the proposed merger between Xerox, of which he owns a 3.37% stake, and competitor Fujifilm.
    "The transaction must be...
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  • A Top Xerox Shareholder Just Sued to Block Fuji's Takeover

    A Top Xerox Shareholder Just Sued to Block Fuji's Takeover

    One year ago - By Fortune

    Xerox Corp.'s third-biggest shareholder sued to block its plan to turn over control to Fujifilm Holding Corp., calling the deal a one-sided transaction that leaves investors in the once-iconic photocopy maker virtually powerless.
    Darwin Deason asked a judge to halt the deal and terminate existing joint venture agreements between the companies. He claims the agreement is the result of fraud and that directors breached their fiduciary duties.
    "The transaction must be stopped dead in its tracks," Deason said in the complaint, filed Tuesday in Manhattan state court.
    Xerox shares fell 1.9...
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  • Deason sues Xerox to block deal with Fujifilm

    One year ago - By Reuters

    Xerox Corp shareholder Darwin Deason asked courts on Tuesday to block the company's merger with Japan's Fujifilm Holdings , claiming board members at the U.S. photocopier maker had failed in their duty to shareholders.
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