Xerox says allegations in shareholder lawsuit were ‘without merit’

Xerox Corp. XRX, -2.04% stated Tuesday the allegations made within the lawsuit filed through shareholder Darwin Deason have been "with out advantage," and stated it’s going to "vigorously protect itself." Deason stated previous that he was once suing Xerox and its board member, and Fujifilm, so that you can block the deal through which Fujifilm acquires a controlling stake in Xerox, alleging an "unsuitable and fraudulently" hid lockup settlement that Xerox entered into with Fujifilm 17 years in the past that was once by no means disclosed to shareholders. "It’s unlucky that Mr. Deason is looking for to intervene with Xerox shareholders’ proper to make a decision and is depending on meritless prison claims," Xerox said in its reaction Tuesday. "Xerox has absolutely disclosed the three way partnership agreements, and the corporate will reply to Mr. Deason’s prison claims thru the best prison channels sooner or later." Xerox’s inventory was once down 1.7% in noon business. It has won 1.four% the previous 12 months, whilst the S&P 500 SPX, +zero.15% has climbed 13.eight%.

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