Xerox's stock falls after 3rd-largest shareholder sues to block Fujifilm deal [MarketWatch]
Xerox Holdings Corporation (XRX)
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Source: MarketWatch
Xerox's stock falls after 3rd-largest shareholder sues to block Fujifilm deal Shares of Xerox Corp. XRX, -1.94% slumped 2.4% in morning trade Tuesday, after Darwin Deason, who he says is the document management company's third-largest shareholder, sued Xerox and its current board members, Xerox's former Chief Executive Ursula Burns and Japan's Fujifilm Holdings Corp. 4901, -3.23% in an effort to block the deal in which Fujifilm acquires a controlling stake in Xerox. Deason alleges in his complaint that The Xerox-Fujifilm deal, which was announced on Jan. 31 , is a 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." Deason said his objective is to enjoin the transaction, terminate the Xerox/Fuji lock-up agreements and seek "strategic alternatives" for Xerox. The stock has now shed 14.3% so far this month,
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News
- Xerox Holdings Co. (NYSE: XRX) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.00 to $17.00. They now have an "underweight" rating on the stock.MarketBeat
- After Plunging -16.47% in 4 Weeks, Here's Why the Trend Might Reverse for Xerox (XRX) [Yahoo! Finance]Yahoo! Finance
- Xerox Holdings Corporation (NASDAQ:XRX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Xerox Holdings First Quarter 2024 Earnings: US$0.94 loss per share (vs US$0.43 profit in 1Q 2023) [Yahoo! Finance]Yahoo! Finance
- Xerox Holdings Co. (NYSE: XRX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
XRX
Earnings
- 4/23/24 - Miss
XRX
Sec Filings
- 4/23/24 - Form 8-K
- 4/11/24 - Form DEF
- 4/4/24 - Form ARS
- XRX's page on the SEC website