A major Xerox shareholder has filed suit against the company, its board of directors and Fuji.
Darwin Deason is co-author of the open letter he and Carl Icahn sent to Xerox shareholders yesterday, urging the firing of the Xerox Board of Directors and nixing the proposed sale to Fuji. The lawsuit contains similar language and reasoning, saying the deal is tilted in favor of Fuji and against owners of Xerox stock.
Xerox released a statement in response to the lawsuit saying in part: “Mr. Deason’s allegations are without merit and the company will vigorously defend itself.” The statement goes on to say that “Xerox’s Board of Directors remains steadfast in its belief that the combination with Fuji Xerox is the best path to create value for the company and its shareholders.”