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Xerox sued by third-largest shareholder Deason for alleged fraud related to takeover by Fuji [CNBC]

XEROX (XRX)  More Company Research Source: CNBC
Last xerox earnings: 1/31 03:00 am Check Earnings Report
US:NYSE Investor Relations: news.xerox.com/investors
PDF Tomohiro Ohsumi | Bloomberg | Getty Images The logo of Fuji Xerox Co., the joint venture between Fujifilm Holdings Corp. and Xerox Corp., is displayed outside the company's headquarters in Tokyo, Japan, on Wednesday, Jan. 31, 2018. The Xerox deal to combine with Fujifilm will take another blow Tuesday when its third-largest shareholder, Darwin Deason, sues Xerox and Fuji in New York court for fraud, seeking to enjoin the companies from completing their deal and to nullify the joint venture between the two. The complaint, brought by Deason's lawyers at King and Spalding, alleges that the Fuji-Xerox joint venture contains a crown jewel lock-up right that allows Fuji to control Xerox's intellectual property and manufacturing rights in the $36 billion Asia-Pacific market in the event Xerox were to sell to another suitor. Deason claims that this lock-up was concealed from him and other shareholders for 17 years until the recent transaction with [Read more]

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