Judge Rejects Xerox Bid to Dismiss $1bn Fujifilm Lawsuit

COMMENT: I would like to recognize an error that appeared as the headline in my newsletter on March 7, 2019. I had stated that Xerox owed Fujifilm the $1 billion dollars in the law suit. This is incorrect as there has been no trial and no finding in the matter. My apologies for my mistake. ~Andy Slawetsky

The Following Appears On Wideformatonline

A Manhattan federal judge has turned down Xerox Corp’s application to dismiss a $US1 billion lawsuit filed by Fujifilm Holdings after the US company backed out of last year’s proposed $US6.1 billion merger deal. The judge described Xerox’s arguments as “plainly wrong” and “thoroughly unpersuasive.”

Xerox and Fujifilm agreed to the merger in January 2018 before the Xerox board reversed its decision after legal action by billionaire activist investors Carl Icahn and Darwin Deason, who said the deal undervalued the company.

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SOURCE Wide Format Online

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