Judge Nixed Settlement in Challenge to Xerox, Fujifilm Tie-Up

The following appears on Law.com

By Tom McParland – A Manhattan Supreme Court judge has rejected class certification and a proposed settlement in a shareholder lawsuit over Xerox Corp.’s planned tie-up with Japanese multinational photography firm Fujifilm Holdings Corp., saying the deal was unfair to Xerox investors.

The proposed settlement, announced last May, came as a win for activist investors Carl Icahn and Darwin Deason, who agreed to drop claims in a consolidated class action in exchange for the resignation of Xerox’s CEO and five other board members.

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SOURCE Law.com

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