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Stock impact report

New York judge halts Xerox deal. Would Delaware have done the same? [Reuters]

Xerox Holdings Corporation (XRX) 
Last xerox holdings corporation earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: news.xerox.com/investors
Company Research Source: Reuters
New York judge halts Xerox deal. Would Delaware have done the same? | Reuters 8 Min Read (Reuters) - We will never know if consolidated shareholder litigation to block Fujifilm’s $6.1 billion acquisition of Xerox Corp would have turned out differently had it taken place in Delaware Chancery Court instead of New York State Supreme Court. But a dramatic decision in the Xerox case has spurred lawyers and academics to ask whether Delaware has become too deferential to corporate boards. On Friday, Manhattan State Supreme Court Justice Barry Ostrager issued a preliminary injunction barring Xerox from holding a shareholder vote on the proposed Fuji merger at its annual meeting in June. After a two-day evidentiary hearing in which Justice Ostrager heard live testimony from eight witnesses, including Xerox’s CEO and the chairman of its board, the judge concluded the Fuji deal was so tainted with conflict that it was likely the CEO and the board, abetted by Fuji, had breached their duty to Xero Show less Read more
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