UPDATE: Xerox Corp.'s (XRX) Largest Individual Shareholder Sues to Block Separation
- Healthcare, tech stocks drive Wall Street higher
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Updated - October 13, 2016 11:01 AM EDT)
Xerox Corp.'s (NYSE: XRX) largest individual shareholder, Darwin Deason, sues to block split of the company, according to Dow Jones.
UPDATE - The suit was filed Tuesday in the U.S. District Court in Dallas.
Deason says Xerox violated an agreement between set in 2009 following Xerox's acquisition of Deason's Affiliated Computer Services business.
The suit says Deason would see his $300 million Series A Preferred investment exchange for shares of the legacy business, versus Conduent.
Deason owned 6.5 percent of Xerox at the start of 2016. Carl Icahn is Xerox's largest institutional shareholder with a 10 percent stake.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wabtec (WAB), Faiveley Agree to Consent Decree - Bloomberg
- GasLog Partners (GLOP) Tops Q3 EPS by 1c; Enters Agreement to Acquire GasLog Seattle
- Exclusive: Dr Pepper Snapple in talks to buy Bai Brands - sources
Create E-mail Alert Related CategoriesLitigation, Spinoffs, Trader Talk
Related EntitiesCarl Icahn, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!