A month ago, after intense pressure and a law suit from investors Carl Icahn and Darwin Deason, Xerox Corp. announced plans to scuttle a controversial takeover deal by Fujifilm Corp. Now, Fujifilm has hit back with its own lawsuit, this time in federal court, seeking more than $1 billion in damages over Xerox’s alleged breach of contract.

In a filing in the U.S. District Court for the Southern District of New York, lawyers for Fujifilm argued that despite the promise of “billions of dollars in synergies,” Xerox’s board, which they said have been “yanked … in more directions than can be counted” by Icahn and Deason’s “whims” has now attempted to back out of a deal it had backed just a few months earlier.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]