Darwin Deason, Xerox’s Third-Largest Shareholder, Seeks, for the Benefit of All Xerox Shareholders, to Enjoin Xerox/Fuji Transaction and Joint Venture on the Basis of Fraud and Breaches of...
Xerox Holdings Corporation (XRX)
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Source: Canadian Business Journal
Darwin Deason, Xerox’s Third-Largest Shareholder, Seeks, for the Benefit of All Xerox Shareholders, to Enjoin Xerox/Fuji Transaction and Joint Venture on the Basis of Fraud and Breaches of Fiduciary Duties NEW YORK, NY –(Marketwired – February 13, 2018) – Darwin Deason, a long-term and third-largest shareholder of Xerox Corp. (“Xerox”), has filed a lawsuit against Fujifilm Holdings Corp. (“Fuji”), Xerox, current Xerox board members and Ursula M. Burns, Xerox’s former Chairman and CEO. The complaint was filed on February 13, 2018, in the Supreme Court of the State of New York, New York County. In the complaint, Mr. Deason alleges the following: The Xerox/Fuji transaction is the result of an improper and fraudulently concealed “crown jewel” lock-up agreement that Xerox entered into with Fuji 17 years ago, that was never disclosed to Xerox’s shareholders before the signing of the Xerox/Fuji transaction; The “crown jewel” lock-up agreement preclude
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